MARKET DEVELOPMENT
Palmolein Prices Slide on Subdued Demand, Global Cues
Palmolein Prices Slide on Subdued Demand, Global Cues
24/10/2013 (Economic Times) - Palmolein prices fell by Rs 50 per quintal on the wholesale oils and oilseeds market today on subdued demand amid a weak global trend.
However, non-edible oils remained steady in limited deals. Traders said subdued demand amid a weak global trend on concerns that a rally in Malaysia's ringgit may weaken export prospects and harvesting of the US soybean crop will boost global cooking oil supplies, mainly influenced palmolein prices.
Meanwhile, palm oil for the contract for delivery in January retreated 0.8 per cent to USD 773 a metric tonne on the Malaysia Derivatives.
In the national capital, palmolein (rbd) and palmolein (Kandla) oils declined by Rs 50 each to Rs 6,300 and Rs 5,900 per quintal, respectively.
The following were today's quotations per quintal: Oilseeds: Mustardseed 2,950-3,050 and Groundnut Seed 2,150-2,900.
Vanaspati Ghee (15-litre tin) 1,100-1,250. Edible oils: Groundnut Mill Delivery (Gujarat) 8,600, Groundnut Solvent Refined (per tin) 1,990-2,040, Mustard expeller (Dadri) 7,150, Mustard Pakki Ghani (per tin) 1,260-1,340, Mustard Kachi Ghani (per tin) 1,345-1,445, Sunflower 6,300, Sesame Mill Delivery 9,000, Soybean Refined Mill Delivery (Indore) 7,000, Soyabean Degum (Kandla) 6,700, Crude Palm Oil (Ex-Kandla) 5,400, Cottonseed Mill Delivery (Haryana) 6,300, Palmolein (RBD) Rs 6,300, Palmolein (Kandla) 5,900, Rice Bran (phy) 3,800 and Coconut (per tin)1,350-1,400.
Non-edible oils: Linseed 6,500, Mahuwa 4,000, Castor 9,300-9,400, Neem 5,100-5,200, Rice Bran 3,1700-3,270 and Palm Fatty 3,225-3,300.
Oilcakes: Groundnut Dehusk 800-850, Sesame 950-1,150, Mustard (New) 1,000-1,025, Mustard 1,200-1,210 and Cottonseed 1,075-1,175.
However, non-edible oils remained steady in limited deals. Traders said subdued demand amid a weak global trend on concerns that a rally in Malaysia's ringgit may weaken export prospects and harvesting of the US soybean crop will boost global cooking oil supplies, mainly influenced palmolein prices.
Meanwhile, palm oil for the contract for delivery in January retreated 0.8 per cent to USD 773 a metric tonne on the Malaysia Derivatives.
In the national capital, palmolein (rbd) and palmolein (Kandla) oils declined by Rs 50 each to Rs 6,300 and Rs 5,900 per quintal, respectively.
The following were today's quotations per quintal: Oilseeds: Mustardseed 2,950-3,050 and Groundnut Seed 2,150-2,900.
Vanaspati Ghee (15-litre tin) 1,100-1,250. Edible oils: Groundnut Mill Delivery (Gujarat) 8,600, Groundnut Solvent Refined (per tin) 1,990-2,040, Mustard expeller (Dadri) 7,150, Mustard Pakki Ghani (per tin) 1,260-1,340, Mustard Kachi Ghani (per tin) 1,345-1,445, Sunflower 6,300, Sesame Mill Delivery 9,000, Soybean Refined Mill Delivery (Indore) 7,000, Soyabean Degum (Kandla) 6,700, Crude Palm Oil (Ex-Kandla) 5,400, Cottonseed Mill Delivery (Haryana) 6,300, Palmolein (RBD) Rs 6,300, Palmolein (Kandla) 5,900, Rice Bran (phy) 3,800 and Coconut (per tin)1,350-1,400.
Non-edible oils: Linseed 6,500, Mahuwa 4,000, Castor 9,300-9,400, Neem 5,100-5,200, Rice Bran 3,1700-3,270 and Palm Fatty 3,225-3,300.
Oilcakes: Groundnut Dehusk 800-850, Sesame 950-1,150, Mustard (New) 1,000-1,025, Mustard 1,200-1,210 and Cottonseed 1,075-1,175.