MARKET DEVELOPMENT
Dealers Stay Away From Edible Oils Market
Dealers Stay Away From Edible Oils Market
25/07/2013 (Hindu Business Line) - Bearish trend continued in spot and physical edible oils market on slack demand and expectation of higher kharif oilseeds output.
Due to heavy rain volumes remained thin and need-based. Groundnut oil, soyabean and sunflower refined oil declined by Rs 5 for 10 kg each while cotton refined oil dropped by Re 1. Palmolein and rapeseed oil ruled unchanged.
In local market due to continuous bearish trend in recent days stockists keep away from taking fresh buying risk.
During the day resellers off loaded about 80-100 tonnes of palmolein at Rs 523 for ready delivery and at the end of the day there were no buyers.
Toward the day’s close, Liberty was quoting palmolein at Rs 533 ex JNPT and Rs 535 ex Shapur, super palmolein Rs 570 for July-August and super deluxe Rs 590. Ruchi quoted palmolein at Rs 535 for July to September, soyabean refined oil Rs 635 July to September and sunflower refined oil Rs 800 for July-August.
Allana was quoting palmolein at Rs 532-535 and super palmolein Rs 570. Gokul’s rates were Rs 535 for July.
In Rajkot, groundnut oil ruled steady on good prospect of kharif output. Prices were Rs 1,550 for telia tin and Rs 975 for loose (10 kg).
Soyabean arrivals were about 1.45-1.50 lakh bags and its prices were Rs 3,300-3,400 ex mandi and Rs 3,420-3,460 for plant delivery.
Mustard seeds arrivals were 75,000 bags and the prices were Rs 2,970-3,560.
Malaysia BMD crude palm oil’s August contracts settled lower at MYR 2,310 (MYR 2,346), September at MYR 2,254 (MYR 2,285) and October at MYR 2,222 (MYR 2,258) a tonne.
The Bombay Commodity Exchange spot rates (Rs/10 kg) : groundnut oil 975 (980), soya refined oil 635 (640), sunflower exp. ref. 740 (745), sunflower ref. 800 (805), rapeseed ref. oil 680 (680), rapeseed expeller ref. 650 (650) cottonseed ref. oil 634 (635) and palmolein 525 (525).
Vikram Global Commodities (P) Ltd quoted Rs 575/10 kg for Malaysian super palmolein-August delivery.
Due to heavy rain volumes remained thin and need-based. Groundnut oil, soyabean and sunflower refined oil declined by Rs 5 for 10 kg each while cotton refined oil dropped by Re 1. Palmolein and rapeseed oil ruled unchanged.
In local market due to continuous bearish trend in recent days stockists keep away from taking fresh buying risk.
During the day resellers off loaded about 80-100 tonnes of palmolein at Rs 523 for ready delivery and at the end of the day there were no buyers.
Toward the day’s close, Liberty was quoting palmolein at Rs 533 ex JNPT and Rs 535 ex Shapur, super palmolein Rs 570 for July-August and super deluxe Rs 590. Ruchi quoted palmolein at Rs 535 for July to September, soyabean refined oil Rs 635 July to September and sunflower refined oil Rs 800 for July-August.
Allana was quoting palmolein at Rs 532-535 and super palmolein Rs 570. Gokul’s rates were Rs 535 for July.
In Rajkot, groundnut oil ruled steady on good prospect of kharif output. Prices were Rs 1,550 for telia tin and Rs 975 for loose (10 kg).
Soyabean arrivals were about 1.45-1.50 lakh bags and its prices were Rs 3,300-3,400 ex mandi and Rs 3,420-3,460 for plant delivery.
Mustard seeds arrivals were 75,000 bags and the prices were Rs 2,970-3,560.
Malaysia BMD crude palm oil’s August contracts settled lower at MYR 2,310 (MYR 2,346), September at MYR 2,254 (MYR 2,285) and October at MYR 2,222 (MYR 2,258) a tonne.
The Bombay Commodity Exchange spot rates (Rs/10 kg) : groundnut oil 975 (980), soya refined oil 635 (640), sunflower exp. ref. 740 (745), sunflower ref. 800 (805), rapeseed ref. oil 680 (680), rapeseed expeller ref. 650 (650) cottonseed ref. oil 634 (635) and palmolein 525 (525).
Vikram Global Commodities (P) Ltd quoted Rs 575/10 kg for Malaysian super palmolein-August delivery.