MARKET DEVELOPMENT
Edible Oils Remain Firm
Edible Oils Remain Firm
07/12/2016 (Hindu Business Line) - A bounce back in Malaysian palm oil, and bullish Chicago soya oil, kept domestic edible oils market firm on Tuesday. On BCE, barring groundnut oil, which gained by ₹40 tracking a sudden spurt in Saurashtra, all other edible oils were unchanged. The market opened with a bearish mood, but later gained in line with foreign markets. Volume remained normal in re-sells as rates in local refineries were steady, but higher.
Morale in spot market remained firm said sources.
Stockiest stay away from fresh bulk buys in the beginning but later part they came forward tracking firm futures. Resellers off loaded about 350-400 tons of palmolein at ₹605-610 and about 80-100 tons of soyabean refined oil at ₹721-722. Allana sold about 550-600 tons sunflower refined oil at ₹730 for up to Jan.
Liberty’s rate for palmolein was Ex JNPT/STC/ Shapur at Rs625 / Rs627/ Rs628 for Dec. Super palmolein at Rs648 and soyabean refined oil ex Shapur Rs735 for Dec.
Allana’s rates were for palmolein Ex- Khopoli Rs625 for Dec. / Jan. Ex IVP Rs628 for Dec/Jan. Soya refined oil Rs732 for Dec/ Jan. Sunflower refined oil Rs745 for Dec/Jan.
Golden agri quoted palmolein at Rs625 for Dec., Gokul quoted Rs620 for 25Dec – 15 Jan.
National level soyabean arrivals were 4.25 – 4.50 lakh bags. Groundnut arrivals were about 40000 – 50000 bags. At Rajkot, groundnut oil Telia Tin jumped by Rs40 to Rs1500 (Rs1460) and Loose (10 kgs) up by Rs25 to Rs950 (Rs925).
On National Commodities and Derivatives Exchange soyabean refined oil Dec-16 futures jumped to Rs. 739.00 (Rs.736.80), Jan-16 up at Rs740.50 (Rs.738.05) and Feb-17 at Rs. 738.50 (Rs.737.15) till 5.00 PM.
Malaysian crude palm oil Dec-16 futures closed higher at MYR 3268 (MYR 3225), Jan-17 MYR 3194 (MYR 3151) and Feb-17 at MYR 3183 (MYR3135).
On The Bombay Commodity Exchange spot rates (Rs/10 kg) were: groundnut oil 1020 (980), soya refined oil 728 (728), sunflower exp. ref. 670 (675), sunflower ref. 730 (730), rapeseed ref. oil 880 (880), rapeseed expeller ref. 850 (850), cottonseed ref. oil 700 (700) and palmolein 608 (608).
Morale in spot market remained firm said sources.
Stockiest stay away from fresh bulk buys in the beginning but later part they came forward tracking firm futures. Resellers off loaded about 350-400 tons of palmolein at ₹605-610 and about 80-100 tons of soyabean refined oil at ₹721-722. Allana sold about 550-600 tons sunflower refined oil at ₹730 for up to Jan.
Liberty’s rate for palmolein was Ex JNPT/STC/ Shapur at Rs625 / Rs627/ Rs628 for Dec. Super palmolein at Rs648 and soyabean refined oil ex Shapur Rs735 for Dec.
Allana’s rates were for palmolein Ex- Khopoli Rs625 for Dec. / Jan. Ex IVP Rs628 for Dec/Jan. Soya refined oil Rs732 for Dec/ Jan. Sunflower refined oil Rs745 for Dec/Jan.
Golden agri quoted palmolein at Rs625 for Dec., Gokul quoted Rs620 for 25Dec – 15 Jan.
National level soyabean arrivals were 4.25 – 4.50 lakh bags. Groundnut arrivals were about 40000 – 50000 bags. At Rajkot, groundnut oil Telia Tin jumped by Rs40 to Rs1500 (Rs1460) and Loose (10 kgs) up by Rs25 to Rs950 (Rs925).
On National Commodities and Derivatives Exchange soyabean refined oil Dec-16 futures jumped to Rs. 739.00 (Rs.736.80), Jan-16 up at Rs740.50 (Rs.738.05) and Feb-17 at Rs. 738.50 (Rs.737.15) till 5.00 PM.
Malaysian crude palm oil Dec-16 futures closed higher at MYR 3268 (MYR 3225), Jan-17 MYR 3194 (MYR 3151) and Feb-17 at MYR 3183 (MYR3135).
On The Bombay Commodity Exchange spot rates (Rs/10 kg) were: groundnut oil 1020 (980), soya refined oil 728 (728), sunflower exp. ref. 670 (675), sunflower ref. 730 (730), rapeseed ref. oil 880 (880), rapeseed expeller ref. 850 (850), cottonseed ref. oil 700 (700) and palmolein 608 (608).