MARKET DEVELOPMENT
Volatility Brings Edible Oils Trade to A Standstill
Volatility Brings Edible Oils Trade to A Standstill
04/12/2013 (Hindu Business Line) - Edible oils continued to decline, tracking sharp drop in futures market in the absence of physical demand.
Domestic soya oil futures declined more than one per cent tracking weak Malaysian palm oil futures.
Activities came to a standstill due to high volatility in futures. Only a few stockists bought palmolein in isolated resale trade at a lower price.
On the Bombay Commodity Exchange, barring groundnut and palmolein which declined by Rs 10 and Rs 5 for 10 kg each respectively, all other edible oils ruled steady.
Traders said that the volume was low on high volatility in the futures market with the outlook turning bearish and expectation of higher arrivals of oilseeds in producing centres. Towards the day’s close, Liberty was quoting palmolein at Rs 610, super palmolein Rs 630, super deluxe palmolein Rs 650, soyabean refined oil Rs 680 and sunflower refined oil Rs 765.
Ruchi quoted palmolein Rs 610, soyabean refined oil Rs 680 and sunflower refined oil Rs 730. Allana was quoting palmolein at Rs 608, super palmolein Rs 625, super deluxe Rs 645, soyabean refined oil Rs 675 and sunflower refined oil Rs 745.
Soyabean arrivals were 4 lakh bags and its prices were Rs 3,620-80 in Maharashtra while in Madhya Pradesh it was Rs 3,700-3,850 ex mandi and Rs 3,850-3,950 plant delivery. Mustard seed arrivals were 75,000 bags and its prices were Rs 3,200-3,850.
Vikram Global Commodities (P) Ltd quoted Rs 672/10 kg for Malaysia super palmolein December delivery.
Malaysia BMD crude palm oil’s January contracts ended lower at MYR 2,607 (MYR 2,637), February at MYR 2,617 (MYR 2,643) and March at MYR 2,623 (MYR 2,647).
The Bombay Commodity Exchange spot rates (Rs/10 kg) were: groundnut oil 830 (840), soya refined oil 670 (670), sunflower exp. ref. 670 (670), sunflower ref. 725 (725), rapeseed ref. oil 745(745), rapeseed expeller ref. 715 (715) cottonseed ref. oil 655 (655) and palmolein 595 (600).
Domestic soya oil futures declined more than one per cent tracking weak Malaysian palm oil futures.
Activities came to a standstill due to high volatility in futures. Only a few stockists bought palmolein in isolated resale trade at a lower price.
On the Bombay Commodity Exchange, barring groundnut and palmolein which declined by Rs 10 and Rs 5 for 10 kg each respectively, all other edible oils ruled steady.
Traders said that the volume was low on high volatility in the futures market with the outlook turning bearish and expectation of higher arrivals of oilseeds in producing centres. Towards the day’s close, Liberty was quoting palmolein at Rs 610, super palmolein Rs 630, super deluxe palmolein Rs 650, soyabean refined oil Rs 680 and sunflower refined oil Rs 765.
Ruchi quoted palmolein Rs 610, soyabean refined oil Rs 680 and sunflower refined oil Rs 730. Allana was quoting palmolein at Rs 608, super palmolein Rs 625, super deluxe Rs 645, soyabean refined oil Rs 675 and sunflower refined oil Rs 745.
Soyabean arrivals were 4 lakh bags and its prices were Rs 3,620-80 in Maharashtra while in Madhya Pradesh it was Rs 3,700-3,850 ex mandi and Rs 3,850-3,950 plant delivery. Mustard seed arrivals were 75,000 bags and its prices were Rs 3,200-3,850.
Vikram Global Commodities (P) Ltd quoted Rs 672/10 kg for Malaysia super palmolein December delivery.
Malaysia BMD crude palm oil’s January contracts ended lower at MYR 2,607 (MYR 2,637), February at MYR 2,617 (MYR 2,643) and March at MYR 2,623 (MYR 2,647).
The Bombay Commodity Exchange spot rates (Rs/10 kg) were: groundnut oil 830 (840), soya refined oil 670 (670), sunflower exp. ref. 670 (670), sunflower ref. 725 (725), rapeseed ref. oil 745(745), rapeseed expeller ref. 715 (715) cottonseed ref. oil 655 (655) and palmolein 595 (600).