MARKET DEVELOPMENT
Groundnut Oil, Palmolein Extend Gain
Groundnut Oil, Palmolein Extend Gain
28/09/2017 (Hindu Business Line) - Groundnut oil and palmolein extended gain by ₹25 and 2 each in edible oils market on Wednesday on firm reports from producing centers amid weak rupee which makes import costly. Rupee weakened to ₹65.70 level against US dollar taking total loss of ₹1.70 in last 15 days. Other edible oils were steady on need base activities. Overseas palm and soya oil complex showed steady trend with thin volatility. Soya oil on NCDEX was down by ₹2-2.50 till evening. Morale was steady said sources.
Shailesh Kataria of Dipti Brokers said, due to stable to weak overseas and domestic futures and weak rupee kept activities limited. Season arrivals pressures of indigenous oilseeds are slowly picking ups (arresting up trend) but weak rupee (arresting down trend) diluting its affect on sentiments. During the day 900-100 tonnes of palmoleinbought by stockiest at ₹590 – 600 for ready to October. About 50 tonnes soyabean refined oil was resold at ₹662. Stockiest stay away from taking long position on expectation of seasonal arrivals pressure.
Liberty: Palmolein ex JNPT ₹616 for 10 October. Ex STC / Shapur were ₹618 / 619 for 31 October. Super palmolein ₹641 up to 31October.
Allana: Palmolein Ex Khapoli ₹615 for 1 – 20 October. Soya refined oil ₹685 for October- 15 November. Sunflower refined oil ₹700 up to October.
Ruchi: Palmolein ₹600 – 603 for ready to October. Soyabean refined oil ₹670 and Sunflower refined oil ₹695 for October.
Golden agri: Palmolein ₹605 for October. Emami: Palmolein ₹605.25 for October.
At Rajkot: groundnut oil Telia Tin further jumped to ₹1,370 (1,340) and Loose (10 kg) increased by ₹20 to ₹850 (830). Groundnut arrivals in Gondal – Rajkot were about 22,000 – 24,000 bags and its prices was ₹630 – 730.
Malaysian crude palm oil, October- 17 futures settled at MYR 2,759 (MYR 2,755) and November -17 ended at MYR2,744 (MYR 2,748).
On NCDEX: Soyabean refined oil Oct-17 futures declined to ₹674.70 (677.15) and November-17 at ₹677.00 (678.90).
On BCE spot rates (₹/10 kg) were: groundnut oil 885 (860), soya refined oil 665 (665), sunflower exp. ref. 635 (635), sunflower ref. 695 (700), rapeseed ref. oil 790 (790), rapeseed expeller ref. 760 (760), cottonseed ref. oil 678 (678) and Palmolein 597 (595).
Shailesh Kataria of Dipti Brokers said, due to stable to weak overseas and domestic futures and weak rupee kept activities limited. Season arrivals pressures of indigenous oilseeds are slowly picking ups (arresting up trend) but weak rupee (arresting down trend) diluting its affect on sentiments. During the day 900-100 tonnes of palmoleinbought by stockiest at ₹590 – 600 for ready to October. About 50 tonnes soyabean refined oil was resold at ₹662. Stockiest stay away from taking long position on expectation of seasonal arrivals pressure.
Liberty: Palmolein ex JNPT ₹616 for 10 October. Ex STC / Shapur were ₹618 / 619 for 31 October. Super palmolein ₹641 up to 31October.
Allana: Palmolein Ex Khapoli ₹615 for 1 – 20 October. Soya refined oil ₹685 for October- 15 November. Sunflower refined oil ₹700 up to October.
Ruchi: Palmolein ₹600 – 603 for ready to October. Soyabean refined oil ₹670 and Sunflower refined oil ₹695 for October.
Golden agri: Palmolein ₹605 for October. Emami: Palmolein ₹605.25 for October.
At Rajkot: groundnut oil Telia Tin further jumped to ₹1,370 (1,340) and Loose (10 kg) increased by ₹20 to ₹850 (830). Groundnut arrivals in Gondal – Rajkot were about 22,000 – 24,000 bags and its prices was ₹630 – 730.
Malaysian crude palm oil, October- 17 futures settled at MYR 2,759 (MYR 2,755) and November -17 ended at MYR2,744 (MYR 2,748).
On NCDEX: Soyabean refined oil Oct-17 futures declined to ₹674.70 (677.15) and November-17 at ₹677.00 (678.90).
On BCE spot rates (₹/10 kg) were: groundnut oil 885 (860), soya refined oil 665 (665), sunflower exp. ref. 635 (635), sunflower ref. 695 (700), rapeseed ref. oil 790 (790), rapeseed expeller ref. 760 (760), cottonseed ref. oil 678 (678) and Palmolein 597 (595).