MARKET DEVELOPMENT
Imported Oils Gain With Malaysian Palm Oil
Imported Oils Gain With Malaysian Palm Oil
29/04/2014 (Hindu Business Line) - Barring palmolein and cotton refined oil, which rose by ₹1 and ₹5 for 10 kg each, all other edible oils ruled steady. Soya oil futures jumped by over one per cent tracking extended gains in Malaysian palm oil futures and speculative buying.
Sources said that hopes of higher physical demand and empty pipelines due to thin advance purchases by stockists sentiment remained bullish. Vikram Global Commodities (P) Ltd quoted ₹635/10kg for Malaysian super palmolein. Liberty was quoting palmolein at ₹616, super palmolein ₹636 and soyabean refined oil ₹672. Ruchi quoted palmolein at ₹612 for May and ₹610 for June, soyabean refined oil ₹672 for June 1-15 and sunflower refined oil ₹670 for June 1-30. Allana was quoting palmolein at ₹614 for June, soyabean refined oil ₹671 ; sunflower refined oil ₹669. At Rajkot, groundnut oil Telia tin was steady at ₹1,125 and loose (10 kg) at ₹710.
Malaysia BMD crude palm oil May futures settled higher at MYR 2,717 (MYR 2,705), June at MYR 2,688 (MYR 2,676) and July at MYR 2,672 (MYR 2,660).
Bombay Commodity Exchange spot rates (₹/10 kg): groundnut oil 760 (760), soya refined oil 670 (670), sunflower exp. ref. 610 (610), sunflower ref. 670 (670), rapeseed ref. oil 695 (695), rapeseed expeller ref. 665 (665) cottonseed ref. oil 670 (665) and palmolein 610 (609).
Sources said that hopes of higher physical demand and empty pipelines due to thin advance purchases by stockists sentiment remained bullish. Vikram Global Commodities (P) Ltd quoted ₹635/10kg for Malaysian super palmolein. Liberty was quoting palmolein at ₹616, super palmolein ₹636 and soyabean refined oil ₹672. Ruchi quoted palmolein at ₹612 for May and ₹610 for June, soyabean refined oil ₹672 for June 1-15 and sunflower refined oil ₹670 for June 1-30. Allana was quoting palmolein at ₹614 for June, soyabean refined oil ₹671 ; sunflower refined oil ₹669. At Rajkot, groundnut oil Telia tin was steady at ₹1,125 and loose (10 kg) at ₹710.
Malaysia BMD crude palm oil May futures settled higher at MYR 2,717 (MYR 2,705), June at MYR 2,688 (MYR 2,676) and July at MYR 2,672 (MYR 2,660).
Bombay Commodity Exchange spot rates (₹/10 kg): groundnut oil 760 (760), soya refined oil 670 (670), sunflower exp. ref. 610 (610), sunflower ref. 670 (670), rapeseed ref. oil 695 (695), rapeseed expeller ref. 665 (665) cottonseed ref. oil 670 (665) and palmolein 610 (609).