MARKET DEVELOPMENT
Edible Oils
Edible Oils
24/03/2016 (Hindu Business Line) - Edible oils prices extended gain on Wednesday despite slack physical demand amid weak futures. Volume remained thin as stockiest stay away due to Holi- Rangpanchmi Festival mood.
On BCE Groundnut oil jump by Rs20 and soya oil – palmolein rose by Rs1 and Rs2 each. Soya oil futures prices witnessed bearish trend tracking lower closing of Malaysian palm oil futures. Sentiments in spot remain steady on ease demand said sources.
Sources said in absence of demand local refineries have kept their rates unchanged at higher level. Reselling pressures continued as commitments having month end due comes nearer. Groundnut oil in Rajkot increase further by Rs25 on higher demand. Arrivals of oilseeds in producing centers ease due to festivals. Soya oil futures on NCDEX decline by Rs1.25 – Rs2.50 till evening. During the day hardly 300 – 350 tons of palmolein was resold at Rs562-Rs565.
Liberty was quoting Palmolein Rs570/Rs571 for April, Super palmolein Rs580/ Rs581 for April. Soyabean refined oil ex Shapur Rs635 for April.
Ruchi was quoting Palmolein ex Patalganga Rs570 and JNPT Rs565 for 10 April. Soyabean refined oil Rs638for 10 April. Sunflower refined oil Rs730 for 10 April.
Allana was quoting Ex Khopoli Palmolein Rs572 for March and Rs575 for 1-25April. Ex JNPT Rs572 for 1-20 April. Soya refined oil Rs635 for 1-25 April. Sunflower refi. oil Rs735 for 1-25 April.
In Saurashtra – Rajkot Groundnut oil Telia tin jumped to Rs1570 (Rs.1530) and Loose (10 kgs) increased to Rs1000 (Rs975). Soyabean arrivals in Madhya Pradesh declined to 10,000 – 11,000 bags and soyabean prices were Rs3700 – Rs3800 ex Mandi and Rs3825 – Rs3900 for Plant delivery. Soya refined oil was quoted at Rs623 – Rs628.
On National Commodities and Derivatives Exchange Soyabean refined oil April-16 futures was Rs635.55 (Rs638.00) and May-16 declined to Rs639.65 (640.95).
Malaysian crude palm oil futures April - 16 settled at MYR2639 (MYR 2652) and May-16 at MYR2678 (MYR 2695).
On The Bombay Commodity Exchange spot rates (Rs/10 kg) were: groundnut oil 1000(980), soya refined oil 621(620), sunflower exp. ref. 680 (680), sunflower ref. 730 (730), rapeseed ref. oil 780 (780), rapeseed expeller ref. 750 (750), cottonseed ref. oil 619 (619) and Palmolein 565 (563).
On BCE Groundnut oil jump by Rs20 and soya oil – palmolein rose by Rs1 and Rs2 each. Soya oil futures prices witnessed bearish trend tracking lower closing of Malaysian palm oil futures. Sentiments in spot remain steady on ease demand said sources.
Sources said in absence of demand local refineries have kept their rates unchanged at higher level. Reselling pressures continued as commitments having month end due comes nearer. Groundnut oil in Rajkot increase further by Rs25 on higher demand. Arrivals of oilseeds in producing centers ease due to festivals. Soya oil futures on NCDEX decline by Rs1.25 – Rs2.50 till evening. During the day hardly 300 – 350 tons of palmolein was resold at Rs562-Rs565.
Liberty was quoting Palmolein Rs570/Rs571 for April, Super palmolein Rs580/ Rs581 for April. Soyabean refined oil ex Shapur Rs635 for April.
Ruchi was quoting Palmolein ex Patalganga Rs570 and JNPT Rs565 for 10 April. Soyabean refined oil Rs638for 10 April. Sunflower refined oil Rs730 for 10 April.
Allana was quoting Ex Khopoli Palmolein Rs572 for March and Rs575 for 1-25April. Ex JNPT Rs572 for 1-20 April. Soya refined oil Rs635 for 1-25 April. Sunflower refi. oil Rs735 for 1-25 April.
In Saurashtra – Rajkot Groundnut oil Telia tin jumped to Rs1570 (Rs.1530) and Loose (10 kgs) increased to Rs1000 (Rs975). Soyabean arrivals in Madhya Pradesh declined to 10,000 – 11,000 bags and soyabean prices were Rs3700 – Rs3800 ex Mandi and Rs3825 – Rs3900 for Plant delivery. Soya refined oil was quoted at Rs623 – Rs628.
On National Commodities and Derivatives Exchange Soyabean refined oil April-16 futures was Rs635.55 (Rs638.00) and May-16 declined to Rs639.65 (640.95).
Malaysian crude palm oil futures April - 16 settled at MYR2639 (MYR 2652) and May-16 at MYR2678 (MYR 2695).
On The Bombay Commodity Exchange spot rates (Rs/10 kg) were: groundnut oil 1000(980), soya refined oil 621(620), sunflower exp. ref. 680 (680), sunflower ref. 730 (730), rapeseed ref. oil 780 (780), rapeseed expeller ref. 750 (750), cottonseed ref. oil 619 (619) and Palmolein 565 (563).