MARKET DEVELOPMENT
Mixed Trend in Edible Oils
Mixed Trend in Edible Oils
11/03/2014 (Hindu Business Line) - Edible oils ruled mixed on Monday with cautious activities amid thin volatility in domestic futures markets. Malaysian palm oil futures extended gain on expectation of higher demand and lower output.
On the Bombay Commodity Exchange, palmolein, groundnut and sunflower oil ruled steady. Soyabean and cotton refined oil rose by ₹2 and ₹5 for 10 kg each. Rapeseed oil declined by ₹2. The volume remained thin in absence of demand. Morale was steady but under current remained positive, said sources.
Sources said that in the spot market, the volume remained low on slack demand. High price gap between refiners and resellers kept activities limited. Vikram Global Commodities (P) Ltd quoted ₹680/10 kg for Malaysia super palmolein March delivery. Liberty was quoting palmolein at ₹655, super palmolein ₹675, super deluxe palmolein ₹695. Ruchi quoted palmolein at ₹655, soyabean refined oil ₹705 and sunflower refined oil ₹715. Allana was quoting palmolein at ₹654, soyabean refined oil ₹705 and sunflower refined oil ₹720.
At Rajkot, groundnut oil was at ₹1,150 (₹1,140) for telia tin and loose (10 kg) at ₹730 (₹730). Malaysia BMD crude palm oil’s futures March contracts settled at MYR 2,904 (MYR 2,890), April at MYR 2,903(MYR 2,889) and May at MYR 2,901 (MYR 2,886).
The Bombay Commodity Exchange spot rates (₹/10 kg) were: groundnut oil 760 (760), soya refined oil 702 (700), sunflower exp. ref. 660 (660), sunflower ref. 715 (715), rapeseed ref. oil 718 (720), rapeseed expeller ref. 688 (690) cottonseed ref. oil 685 (680) and palmolein 640 (640).
On the Bombay Commodity Exchange, palmolein, groundnut and sunflower oil ruled steady. Soyabean and cotton refined oil rose by ₹2 and ₹5 for 10 kg each. Rapeseed oil declined by ₹2. The volume remained thin in absence of demand. Morale was steady but under current remained positive, said sources.
Sources said that in the spot market, the volume remained low on slack demand. High price gap between refiners and resellers kept activities limited. Vikram Global Commodities (P) Ltd quoted ₹680/10 kg for Malaysia super palmolein March delivery. Liberty was quoting palmolein at ₹655, super palmolein ₹675, super deluxe palmolein ₹695. Ruchi quoted palmolein at ₹655, soyabean refined oil ₹705 and sunflower refined oil ₹715. Allana was quoting palmolein at ₹654, soyabean refined oil ₹705 and sunflower refined oil ₹720.
At Rajkot, groundnut oil was at ₹1,150 (₹1,140) for telia tin and loose (10 kg) at ₹730 (₹730). Malaysia BMD crude palm oil’s futures March contracts settled at MYR 2,904 (MYR 2,890), April at MYR 2,903(MYR 2,889) and May at MYR 2,901 (MYR 2,886).
The Bombay Commodity Exchange spot rates (₹/10 kg) were: groundnut oil 760 (760), soya refined oil 702 (700), sunflower exp. ref. 660 (660), sunflower ref. 715 (715), rapeseed ref. oil 718 (720), rapeseed expeller ref. 688 (690) cottonseed ref. oil 685 (680) and palmolein 640 (640).