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MARKET DEVELOPMENT
Online trade in edible oils starts in Bombay
calendar30-11-2001 | linkNULL | Share This Post:

NEW DELHI, Nov 27 (Asia Pulse) - Online trading in edible oil startedtoday in Bombay, and is expected to facilitate the trade in refined,bleached and deodorized palm oil futures contracts with remote importersand overseas investors.India is the largest importer of edible oil and imported 4.8 milliontonnes in the 2000-01 season (November-October).Online trading will help take instant decisions as traders would haveready access to price trends. It eliminates delay in information flow byallowing direct trading, market sources said here.They said Bombay exchange trades about 4 million rupees worth of RBD palmoil futures a day. That could surge to 150 They said Bombay exchangetrades about 4 million rupees worth of RBD palm oil futures a day. Thatcould surge to 150 million rupees once it starts being traded online,traders said. RBD palm oil isn't traded on any other exchange in theworld.