MARKET DEVELOPMENT
Festival Demand Gets Edible Oils on A Sizzle
Festival Demand Gets Edible Oils on A Sizzle
04/07/2013 (Hindu Business Line) - Edible oils market turned hot late evening on strong demand ahead of festival amid firm futures market on Wednesday. Groundnut oil rose by Rs 20 and cotton refined oil by Rs 4 for 10 kg each tacking bullish trend in Saurashtra.
Palmolein, soyabean, sunflower and rapeseed oil ruled unchanged. The volume was higher in palmolein and soyabean refined oil.
Sources said that in local market about 350-400 tonnes of palmolein were resale traded at Rs 530-532 for July.
Ruchi sold 350-400 tonnes of super palmolein at Rs 570-572 for July and soyabean refined oil about 650-700 tonnes at Rs 660 for August. Bunge sold 1,000-1,200 tonnes of palmolein at Rs 528 for July 15/20. Stockists have covered the commodity to fill the demand for Ramadan and Ashadhi Ekadashi.
Soyabean arrivals were about 1 lakh bags and its prices were Rs 3,500-3,600 ex-mandi and Rs 3,675-3,750 for plant delivery. Mustard seeds arrivals were 1.20- 1.25 lakh bags and the prices were Rs 3,000-3,525.
Towards the day’s close, Liberty was quoting palmolein at Rs 545, super palmolein Rs 580 and super deluxe Rs 600. Ruchi quoted palmolein at Rs 540 for July 10 and Rs 545 for July-August, super palmolein at Rs 575, soyabean refined oil Rs 660 for July-August and sunflower refined oil Rs 810 for July-August.
Allana’s rate for palmolein was Rs 540 and for super palmolein Rs 580. Gokul was quoting palmolein at Rs 535 for July 15. Resellers rates were Rs 530-532.
In Rajkot, groundnut oil shot up by Rs 70 to Rs 1,440 for telia tin and by Rs 45 to Rs 925 for loose (10 kg).
Malaysian BMD crude palm oil’s August contracts settled at MYR 2,368 (MYR 2,342), September at MYR 2,365 (MYR 2,339) and October at MYR 2,358 (MYR 2,332) a tonne.
The Bombay Commodity Exchange spot rates (Rs/10 kg) were: groundnut oil Rs 930 (910), soya refined oil Rs 660 (660), sunflower exp. ref.Rs 750 (750), sunflower ref.Rs 805 (805), rapeseed ref. oil Rs 688 (688), rapeseed expeller ref.Rs 658 (658) cottonseed ref. oil Rs 655 (651) and palmolein Rs 528 (528).
Vikram Global Commodities, Chennai quoted Malaysian super palmolein at Rs 575 ex-Chennai for 15 days delivery.
Palmolein, soyabean, sunflower and rapeseed oil ruled unchanged. The volume was higher in palmolein and soyabean refined oil.
Sources said that in local market about 350-400 tonnes of palmolein were resale traded at Rs 530-532 for July.
Ruchi sold 350-400 tonnes of super palmolein at Rs 570-572 for July and soyabean refined oil about 650-700 tonnes at Rs 660 for August. Bunge sold 1,000-1,200 tonnes of palmolein at Rs 528 for July 15/20. Stockists have covered the commodity to fill the demand for Ramadan and Ashadhi Ekadashi.
Soyabean arrivals were about 1 lakh bags and its prices were Rs 3,500-3,600 ex-mandi and Rs 3,675-3,750 for plant delivery. Mustard seeds arrivals were 1.20- 1.25 lakh bags and the prices were Rs 3,000-3,525.
Towards the day’s close, Liberty was quoting palmolein at Rs 545, super palmolein Rs 580 and super deluxe Rs 600. Ruchi quoted palmolein at Rs 540 for July 10 and Rs 545 for July-August, super palmolein at Rs 575, soyabean refined oil Rs 660 for July-August and sunflower refined oil Rs 810 for July-August.
Allana’s rate for palmolein was Rs 540 and for super palmolein Rs 580. Gokul was quoting palmolein at Rs 535 for July 15. Resellers rates were Rs 530-532.
In Rajkot, groundnut oil shot up by Rs 70 to Rs 1,440 for telia tin and by Rs 45 to Rs 925 for loose (10 kg).
Malaysian BMD crude palm oil’s August contracts settled at MYR 2,368 (MYR 2,342), September at MYR 2,365 (MYR 2,339) and October at MYR 2,358 (MYR 2,332) a tonne.
The Bombay Commodity Exchange spot rates (Rs/10 kg) were: groundnut oil Rs 930 (910), soya refined oil Rs 660 (660), sunflower exp. ref.Rs 750 (750), sunflower ref.Rs 805 (805), rapeseed ref. oil Rs 688 (688), rapeseed expeller ref.Rs 658 (658) cottonseed ref. oil Rs 655 (651) and palmolein Rs 528 (528).
Vikram Global Commodities, Chennai quoted Malaysian super palmolein at Rs 575 ex-Chennai for 15 days delivery.