MARKET DEVELOPMENT
Edible Oils Static As Trade Turns Cautious
Edible Oils Static As Trade Turns Cautious
07/08/2013 (Hindu Business Line) - Palmolein and rapeseed oil rose by Rs 5 and Rs 7 for 10 kg each on Tuesday.
Other edible oils ruled unchanged as the market sentiment remained cautious, tracking thin volatility in Malaysian palm oil futures which closed slightly higher after moving both the ways.
The world market scenario for the coming days indicates the possibility of higher supply. Liberty sold 350-400 tonnes of palmolein at Rs 541, Ruchi sold 350-400 tonnes of palmolein at Rs 540 and soyabean refined oil 150-200 tonnes at Rs 640, Allana sold 250-300 tonnes of palmolein at Rs 540. Resellers off-loaded 250-300 tonnes of palmolein at Rs 536-539.
Liberty quoted palmolein at Rs 541, super palmolein Rs 575 and super deluxe Rs 595, soyabean refined oil Rs 644 and sunflower refined oil Rs 809.
Ruchi quoted palmolein Rs 542, super palmolein Rs 560, soyabean refined oil Rs 641 and sunflower refined oil Rs 800.
Allana quoted palmolein at Rs 542, super palmolein Rs 575, soyabean refined oil Rs 640 and sunflower refined oil Rs 800. Gokul’s rates were Rs 540. In Rajkot, groundnut oil improved by Rs 20 to Rs 1,500 (Rs 1,480) for telia tin and by Rs 20 for loose (10 kg) to Rs 970 (Rs 950). Soyabean arrivals dropped to around 40,000 bags at Rs 3,325-3,350 ex-mandi and Rs 3,375-3,400 for plant delivery. Mustard seeds arrivals also dropped to 50,000 bags and the prices were Rs 3,000-3,590.
On the National Commodities and Derivatives Exchange, soyabean refined oil September future was higher at Rs 647.60 (Rs 643.05), October up Rs 619.80 (Rs 615.50) and November increased to Rs 615.50 (Rs 612.55).
Malaysia BMD crude palm oil September futures closed up to MYR 2,277 (MYR 2,268), October at MYR 2,246 (MYR 2,240) and November at MYR 2,238 (MYR 2,234).
The Bombay Commodity Exchange spot rates (Rs/10 kg) were: Groundnut oil 970 (970), soya refined oil 640 (640), sunflower exp. ref. 720 (725), sunflower ref. 800 (800), rapeseed ref. oil 692 (685), rapeseed expeller ref. 662 (655) cottonseed ref. oil 645 (645) and palmolein 537 (532).
Vikram Global Commodities (P) Ltd has quoted Rs 585 for 10 kg for Malaysian super palmolein for August delivery.
Other edible oils ruled unchanged as the market sentiment remained cautious, tracking thin volatility in Malaysian palm oil futures which closed slightly higher after moving both the ways.
The world market scenario for the coming days indicates the possibility of higher supply. Liberty sold 350-400 tonnes of palmolein at Rs 541, Ruchi sold 350-400 tonnes of palmolein at Rs 540 and soyabean refined oil 150-200 tonnes at Rs 640, Allana sold 250-300 tonnes of palmolein at Rs 540. Resellers off-loaded 250-300 tonnes of palmolein at Rs 536-539.
Liberty quoted palmolein at Rs 541, super palmolein Rs 575 and super deluxe Rs 595, soyabean refined oil Rs 644 and sunflower refined oil Rs 809.
Ruchi quoted palmolein Rs 542, super palmolein Rs 560, soyabean refined oil Rs 641 and sunflower refined oil Rs 800.
Allana quoted palmolein at Rs 542, super palmolein Rs 575, soyabean refined oil Rs 640 and sunflower refined oil Rs 800. Gokul’s rates were Rs 540. In Rajkot, groundnut oil improved by Rs 20 to Rs 1,500 (Rs 1,480) for telia tin and by Rs 20 for loose (10 kg) to Rs 970 (Rs 950). Soyabean arrivals dropped to around 40,000 bags at Rs 3,325-3,350 ex-mandi and Rs 3,375-3,400 for plant delivery. Mustard seeds arrivals also dropped to 50,000 bags and the prices were Rs 3,000-3,590.
On the National Commodities and Derivatives Exchange, soyabean refined oil September future was higher at Rs 647.60 (Rs 643.05), October up Rs 619.80 (Rs 615.50) and November increased to Rs 615.50 (Rs 612.55).
Malaysia BMD crude palm oil September futures closed up to MYR 2,277 (MYR 2,268), October at MYR 2,246 (MYR 2,240) and November at MYR 2,238 (MYR 2,234).
The Bombay Commodity Exchange spot rates (Rs/10 kg) were: Groundnut oil 970 (970), soya refined oil 640 (640), sunflower exp. ref. 720 (725), sunflower ref. 800 (800), rapeseed ref. oil 692 (685), rapeseed expeller ref. 662 (655) cottonseed ref. oil 645 (645) and palmolein 537 (532).
Vikram Global Commodities (P) Ltd has quoted Rs 585 for 10 kg for Malaysian super palmolein for August delivery.