MARKET DEVELOPMENT
Edible Oils Gain on Marriage Season Purchase
Edible Oils Gain on Marriage Season Purchase
11/04/2013 (Hindu Business Line) - Prices of edible oils continue to rule firm market on Wednesday, barring groundnut oil that dropped by Rs 5 for 10 kg. Prices were up by Rs 4-9. The market was firm on higher demand from stockists who are continuously buying since the start of this month.
A broker said that “after taking a break for one day, stockists started started forward buying on expectation of higher demand for marriage season. Mustardseed arrivals declined to 5.80 lakh bags compared with 6.50 lakh bags previous day and soyabean arrivals drop to 80,000 bags compared with 90,000 bags national level push up oil prices higher. Mustard seeds rates were Rs 3,300-3,500 a quintal while soyabean prices were Rs 4,100-4,200 at producing level.
During the day, Liberty sold 650-700 tonnes of palmolein at Rs 518-520 for May 15, Ruchi sold 350-400 tonnes of palmolein at Rs 515 ex-JNPT for weekly delivery and 80-100 tonnes of sunflower refined oil at Rs 771 for May. Gokul sold 350-400 tonnes palmolein for April 15-30 at Rs 513-515 and NCML off loaded 350-400 tonnes palmolein for May at Rs 512.
Liberty quoted super palmolein Rs 550 for May 15 and sunflower refined oil at Rs 780. Ruchi quoted palmolein at Rs 522 ex-Patalganga and Rs 515 ex-JNPT, soyabean refined oil at Rs 685 for May 15, sunflower refined oil Rs 771 for April-May.
Allana quoted super palmolein at Rs 550.
In Saurashtra – Rajkot groundnut oil was up by Rs 20 at Rs1,940 for telia tin and by Rs10 to Rs 1,250 for loose (10 kg).
In Malaysia crude palm oil May contracts settled lower at MYR 2,360 (MYR 2,383), June at MYR 2,371 (MYR 2,395) and July at MYR 2381(MYR 2,401) a tonne.
The Bombay Commodity Exchange spot rates (Rs/10 kg) were: Groundnut oil 1,220 (1,225), soya refined oil 682 (677), sunflower exp. ref. 685 (680), sunflower ref. 775 (770), rapeseed ref. oil 713 (710), rapeseed expeller ref. 683 (680) cottonseed ref. oil 649(640) and palmolein 515 (511).
A broker said that “after taking a break for one day, stockists started started forward buying on expectation of higher demand for marriage season. Mustardseed arrivals declined to 5.80 lakh bags compared with 6.50 lakh bags previous day and soyabean arrivals drop to 80,000 bags compared with 90,000 bags national level push up oil prices higher. Mustard seeds rates were Rs 3,300-3,500 a quintal while soyabean prices were Rs 4,100-4,200 at producing level.
During the day, Liberty sold 650-700 tonnes of palmolein at Rs 518-520 for May 15, Ruchi sold 350-400 tonnes of palmolein at Rs 515 ex-JNPT for weekly delivery and 80-100 tonnes of sunflower refined oil at Rs 771 for May. Gokul sold 350-400 tonnes palmolein for April 15-30 at Rs 513-515 and NCML off loaded 350-400 tonnes palmolein for May at Rs 512.
Liberty quoted super palmolein Rs 550 for May 15 and sunflower refined oil at Rs 780. Ruchi quoted palmolein at Rs 522 ex-Patalganga and Rs 515 ex-JNPT, soyabean refined oil at Rs 685 for May 15, sunflower refined oil Rs 771 for April-May.
Allana quoted super palmolein at Rs 550.
In Saurashtra – Rajkot groundnut oil was up by Rs 20 at Rs1,940 for telia tin and by Rs10 to Rs 1,250 for loose (10 kg).
In Malaysia crude palm oil May contracts settled lower at MYR 2,360 (MYR 2,383), June at MYR 2,371 (MYR 2,395) and July at MYR 2381(MYR 2,401) a tonne.
The Bombay Commodity Exchange spot rates (Rs/10 kg) were: Groundnut oil 1,220 (1,225), soya refined oil 682 (677), sunflower exp. ref. 685 (680), sunflower ref. 775 (770), rapeseed ref. oil 713 (710), rapeseed expeller ref. 683 (680) cottonseed ref. oil 649(640) and palmolein 515 (511).