MARKET DEVELOPMENT
Cooking Oils on A Bull Run
Cooking Oils on A Bull Run
16/04/2015 (Hindu Business Line) - Edible oils market showed a positive trend on Wednesday by gaining ₹1-5 per 10 kg as local refineries decreased their rates for imported palmolein/soya oil. The volumes remained higher.
On the Bombay Commodity Exchange, palmolein, soya oil and cotton oil rose by ₹2, ₹1 and ₹1 each. Sunflower oil gained by ₹3-5 and Rapeseed-Mustard oil lost ₹6.
Sources said stockists have taken fresh position for ready and forward delivery on hopes of higher demand and an expected lower domestic oilseeds output. Vikram Global commodities (P) Ltd quoted ₹520 for Malaysian super palm April delivery. Liberty was quoting palmolein at ₹490 JNPT, ₹492 STC and ₹493 Mumbai-Shapur, super palmolein ₹52, soyabean refined oil ₹582. Ruchi’s rates: palmolein ₹485 JNPT, soyabean refined oil ₹570, sunflower refined oil ₹633. Allana traded palmolein at ₹485 JNPT, super palmolein ₹515, soyabean refined oil ₹566 and sunflower oil ₹633.
In Saurashtra-Rajkot, groundnut oil Telia tin increased to ₹1,560 (1,520) and loose (10 kg) was up ₹25 to ₹1,000.
BCE spot rates (₹/10 kg): groundnut oil 980 (980), soya ref. 576 (575), sunflower exp. ref. 585 (580), sunflower ref. 633 (630), rapeseed ref. oil 702(708), rapeseed exp. ref. 672 (678) cottonseed ref. 586 (584) and palmolein 488 (486).
On the Bombay Commodity Exchange, palmolein, soya oil and cotton oil rose by ₹2, ₹1 and ₹1 each. Sunflower oil gained by ₹3-5 and Rapeseed-Mustard oil lost ₹6.
Sources said stockists have taken fresh position for ready and forward delivery on hopes of higher demand and an expected lower domestic oilseeds output. Vikram Global commodities (P) Ltd quoted ₹520 for Malaysian super palm April delivery. Liberty was quoting palmolein at ₹490 JNPT, ₹492 STC and ₹493 Mumbai-Shapur, super palmolein ₹52, soyabean refined oil ₹582. Ruchi’s rates: palmolein ₹485 JNPT, soyabean refined oil ₹570, sunflower refined oil ₹633. Allana traded palmolein at ₹485 JNPT, super palmolein ₹515, soyabean refined oil ₹566 and sunflower oil ₹633.
In Saurashtra-Rajkot, groundnut oil Telia tin increased to ₹1,560 (1,520) and loose (10 kg) was up ₹25 to ₹1,000.
BCE spot rates (₹/10 kg): groundnut oil 980 (980), soya ref. 576 (575), sunflower exp. ref. 585 (580), sunflower ref. 633 (630), rapeseed ref. oil 702(708), rapeseed exp. ref. 672 (678) cottonseed ref. 586 (584) and palmolein 488 (486).