The Hindu Business Line (17/04/2018) - Mumbai, April 17

In the edible oils market, volume jumped on renewed demand led by strong rumour of duty hike amid weak rupee which makes imports costlier at lower price level. Sources said local refineries kept their rates steady but sold oils with heavy discount. Golden Agri sold about 2,800-3000 tonnes palmolein at ₹716-718 for 15 May. Allana sold 800-1,000 tonnes palmolein at ₹720 for May, soyabean refined oil 150-200 tonnes at ₹760 for April and sunflower refined oil 80-100 tonnes at ₹765 for May. Reseller’s off load 250-300 tonnes palmolein at ₹507-510 for ready. Demands for other oils were lacking. Liberty: Palmolein Ex Shapur ₹739 for April and STC ₹734 for 5 May, Super palmolein ₹764 for April. Sunflower refined oil ₹790 for April.

Allana: Palmolein Ex Khapoli ₹740 for April, Soyabean refined oil ₹780 for April and Sunflower refined oil ₹790 for April. Ruchi: Soya oil ₹773 and sunflower refi.oil ₹768 for 20 April. Golden agri: Palmolein ex JNPT ₹718 for 10 May and Ex STC ₹718 for 22 April-10 May.

Groundnut prices were ₹640 – ₹730. Soyabean arrivals in Madhya Pradesh were 45,000 – 46,000 bags and its prices were ex Mandi ₹3,575– ₹3,700 and plant delivery ₹3,700-3,700. Soya oil was ₹730-735 and Soya refined oil was ₹760-765. At Rajkot: groundnut oil Telia Tin was steady at ₹1,310 (₹1,310) and Loose (10 kg) was ₹810 (₹810). Malaysian crude palm oil, May -18 futures settled at MYR2,392 (MYR 2,362), June -18 at MYR 2,407 (MYR 2,368) and July-18 at MYR 2,408 (MYR 2,369). On NCDEX: Soyabean refined oil April -18 was up at ₹767.50 (₹764.80) and May-18 was at ₹774.50 (₹769.45) till evening. On BCE spot rates (₹/10 kg) were: groundnut oil 860 (850), soya refined oil 762 (765), sunflower exp. ref. 700 (700), sunflower ref. 760 (765), rapeseed ref. oil 785 (790), rapeseed expeller ref. 755 (760), cottonseed ref. oil 767 (767) and Palmolein 714 (715).

Read more at https://www.thehindubusinessline.com/economy/agri-business/higher-volume-in-edible-oils/article23576192.ece