MARKET DEVELOPMENT
Imported Edible Oils Fall Further
Imported Edible Oils Fall Further
16/05/2013 (Hindu Business Line) - Edible oil prices, especially imported plmolein and soyabean refined oil, extended loss further by Rs 2 each and cotton refined oil dropped by Rs 3 for 10 kg on Wednesday tracking weak local demand and bearish Malaysian palm oil futures. Groundnut, rapeseed and sunflower oil ruled unchanged in line with steady to weak trend in producing centres.
Sources said that slack middle month demand kept volumes thin and isolated in Mumbai market. Stockists preferred to fulfil old commitments. About 200-250 tonnes of palmolein were traded in resale at Rs 504-505 for ready delivery. Lower arrivals of soyabean and rapeseed in producing centres kept sentiment positive. In Indore soyabean prices were Rs 4,050-60 ex-mandi and Rs 4,100-20 plant delivery. Mustard seed arrivals were 2.70 lakh bags national level and the prices were Rs 3,100-3,610.
Towatds the day’s close, Liberty was quoting palmolein at Rs 510-514, super palmolein Rs 545 and sunflower refined oil Rs 780. Ruchi was quoting palmolein at Rs 514 for Patalganga and Rs 508 for JNPT, soyabean refined oil Rs 660 and sunflower refined oil at Rs 755. Allana’s rates for palmolein were Rs 545. In Saurashtra – Rajkot, groundnut oil dropped by Rs 10 to Rs 1,770 for telia tin and Rs 1,150 (Rs 1,160) for loose (10 kg).
Malaysian BMD crude palm oil’s June contracts settled at MYR 2,295 (MYR 2,292), July at MYR 2,297 (MYR 2,302) and August at MYR 2,297 (MYR 2,301) a tonne.
The Bombay Commodity Exchange spot rates (Rs/10 kg): groundnut oil 1,140 (1,140), soya refined oil 660 (662), sunflower exp. ref. 675 (675), sunflower ref. 755 (760), rapeseed ref. oil 690 (690), rapeseed expeller ref. 660 (660) cottonseed ref. oil 645 (648) and palmolein 505 (507).
Vikram Global Commodities, Chennai quoted Malaysian super palmolein at Rs 553 ex-Chennai.
Sources said that slack middle month demand kept volumes thin and isolated in Mumbai market. Stockists preferred to fulfil old commitments. About 200-250 tonnes of palmolein were traded in resale at Rs 504-505 for ready delivery. Lower arrivals of soyabean and rapeseed in producing centres kept sentiment positive. In Indore soyabean prices were Rs 4,050-60 ex-mandi and Rs 4,100-20 plant delivery. Mustard seed arrivals were 2.70 lakh bags national level and the prices were Rs 3,100-3,610.
Towatds the day’s close, Liberty was quoting palmolein at Rs 510-514, super palmolein Rs 545 and sunflower refined oil Rs 780. Ruchi was quoting palmolein at Rs 514 for Patalganga and Rs 508 for JNPT, soyabean refined oil Rs 660 and sunflower refined oil at Rs 755. Allana’s rates for palmolein were Rs 545. In Saurashtra – Rajkot, groundnut oil dropped by Rs 10 to Rs 1,770 for telia tin and Rs 1,150 (Rs 1,160) for loose (10 kg).
Malaysian BMD crude palm oil’s June contracts settled at MYR 2,295 (MYR 2,292), July at MYR 2,297 (MYR 2,302) and August at MYR 2,297 (MYR 2,301) a tonne.
The Bombay Commodity Exchange spot rates (Rs/10 kg): groundnut oil 1,140 (1,140), soya refined oil 660 (662), sunflower exp. ref. 675 (675), sunflower ref. 755 (760), rapeseed ref. oil 690 (690), rapeseed expeller ref. 660 (660) cottonseed ref. oil 645 (648) and palmolein 505 (507).
Vikram Global Commodities, Chennai quoted Malaysian super palmolein at Rs 553 ex-Chennai.