MARKET DEVELOPMENT
Traders Keep Away From Bearish Edible Oils
Traders Keep Away From Bearish Edible Oils
16/04/2013 (Hindu Business Line) - Edible oils prices declined on Monday on thin activities. Bearish Malaysian palm oil and Chicago soyabean futures weighed on local markets.
Sources said that the volume was thin in local market on ease in demand. Local refineries have decreased rates for palm oil. A meagre 150-200 tonnes palmolein were traded in resale at Rs 508-510 for ready- nearby delivery.
For indigenous oils, new arrivals of seeds and improved selling kept buyers away from fresh bet.
Mustard seed arrivals were 6.50 lakh bags and quoted Rs 3350-3,525 a quintal.
Soyabean arrivals were 95,000-98,000 bags at national level and quoted Rs 3,950-3,970 ex-mandi and Rs 4,000 plant delivery.
At the close of the day, Liberty quoted palmolein at Rs 511-514; super palmolein Rs 545 and sunflower refined oil Rs 780.
Ruchi quoted palmolein at Rs 515 Patalganga; soyabean refined oil Rs 680 and sunflower refined oil Rs 771.
Allana quoted super palmolein at Rs 545.
In Saurashtra-Rajkot, groundnut oil dropped by Rs 10 to Rs 1,880 (Rs 1,890) for telia tin and Rs 1,220 (Rs 1,230) for loose 10 kg on higher selling.
On the National Commodities and Derivatives Exchange, soyabean refined oil May futures declined by Rs 4.70 to Rs 703.85 (Rs 708.55); June dropped by Rs 6.25 to Rs 689.05 (Rs 695.30) and July closed lower by Rs 6.15 to Rs 681.30 (Rs 687.45).
In Malaysia BMD crude palm oil May futures settled lower at MYR 2,280 (MYR 2,327); June MYR 2,293 (MYR 2,345) and July was MYR 2,301 (MYR 2,357) a tonne.
The Bombay Commodity Exchange spot rates (Rs/10 kg): Groundnut oil 1,210 (1,210); soya refined oil 679 (680); sunflower exp. ref. 690 (690); sunflower ref. 775 (775); rapeseed ref. oil 710 (710); rapeseed expeller ref. 680 (680); cottonseed ref. oil 645 (643) and palmolein 510 (512).
Sources said that the volume was thin in local market on ease in demand. Local refineries have decreased rates for palm oil. A meagre 150-200 tonnes palmolein were traded in resale at Rs 508-510 for ready- nearby delivery.
For indigenous oils, new arrivals of seeds and improved selling kept buyers away from fresh bet.
Mustard seed arrivals were 6.50 lakh bags and quoted Rs 3350-3,525 a quintal.
Soyabean arrivals were 95,000-98,000 bags at national level and quoted Rs 3,950-3,970 ex-mandi and Rs 4,000 plant delivery.
At the close of the day, Liberty quoted palmolein at Rs 511-514; super palmolein Rs 545 and sunflower refined oil Rs 780.
Ruchi quoted palmolein at Rs 515 Patalganga; soyabean refined oil Rs 680 and sunflower refined oil Rs 771.
Allana quoted super palmolein at Rs 545.
In Saurashtra-Rajkot, groundnut oil dropped by Rs 10 to Rs 1,880 (Rs 1,890) for telia tin and Rs 1,220 (Rs 1,230) for loose 10 kg on higher selling.
On the National Commodities and Derivatives Exchange, soyabean refined oil May futures declined by Rs 4.70 to Rs 703.85 (Rs 708.55); June dropped by Rs 6.25 to Rs 689.05 (Rs 695.30) and July closed lower by Rs 6.15 to Rs 681.30 (Rs 687.45).
In Malaysia BMD crude palm oil May futures settled lower at MYR 2,280 (MYR 2,327); June MYR 2,293 (MYR 2,345) and July was MYR 2,301 (MYR 2,357) a tonne.
The Bombay Commodity Exchange spot rates (Rs/10 kg): Groundnut oil 1,210 (1,210); soya refined oil 679 (680); sunflower exp. ref. 690 (690); sunflower ref. 775 (775); rapeseed ref. oil 710 (710); rapeseed expeller ref. 680 (680); cottonseed ref. oil 645 (643) and palmolein 510 (512).