MARKET DEVELOPMENT
Stockists’ Entry Lifts Edible Oils Market
Stockists’ Entry Lifts Edible Oils Market
05/12/2013 (Hindu Business Line) - The sentiment in the edible oils market turned firm on Wednesday tracking a rebound in domestic and overseas futures. Physical demand too improved. Malaysian palm
oil and domestic soya oil futures rose sharply after initial drop on short-covering. Over 3,600 tonnes of palmolein, soyabean and sunflower oil were traded during the day, said sources.
On the Bombay Commodity Exchange, sunflower and cotton oil dropped by Rs 10 for 10 kg each; groundnut oil rose by Rs 10 despite drop in Saurashtra market by Rs 20. Imported palmolein and soyabean oil ruled unchanged. Rapeseed oil ruled steady.
Shailesh Kataria of Riddhi Brokers told Business Line: “The sentiment improved and volume increased in the physical market during the noon session . Domestic soya oil futures closed higher by Rs 4-6 compared with the previous day. The market may extend gain as stockists entered with fresh orders at lower price.”
Towards the day’s close, Liberty was quoting palmolein at Rs 610, super palmolein Rs 630, super deluxe palmolein Rs 650, soyabean refined oil Rs 680 and sunflower refined oil Rs 765. Ruchi quoted palmolein at Rs 610, soyabean refined oil Rs 670 and sunflower refined oil Rs 715. Allana was quoting palmolein at Rs 608, super palmolein Rs 625, super deluxe Rs 645, soyabean refined oil Rs 675 and sunflower refined oil Rs 745.
In Rajkot, groundnut oil was Rs 1,230 (Rs 1,250) for telia tin and loose (10 kg) declined to Rs 780 (Rs 800). Soyabean arrivals were 3.40 lakh bags and its prices were Rs 3,600-75 in Maharashtra while in Madhya Pradesh it was Rs 3,650-3,800x mandi and Rs 3,800-3,900
Plant delivery. Mustard seed arrivals were 90,000 bags and its prices were Rs 3,200-3,800.Vikram Global Commodities (P) Ltd quoted Rs 675/10 kg for Malaysia super palmolein.
December delivery. Malaysia BMD crude palm oil’s January contracts settled higher at MYR 2,642 (MYR 2,607), February at MYR 2,656 (MYR 2,617) and March at MYR 2,658 (MYR 2,623).
The Bombay Commodity Exchange spot rates (Rs/10 kg) were: groundnut oil 840 (840), soya refined oil 670 (670), sunflower exp. ref. 660 (670), sunflower ref. 715 (725), rapeseed ref. oil 745(745), rapeseed expeller ref. 715 (715) cottonseed ref. oil 645 (655) and palmolein 595 (595).
oil and domestic soya oil futures rose sharply after initial drop on short-covering. Over 3,600 tonnes of palmolein, soyabean and sunflower oil were traded during the day, said sources.
On the Bombay Commodity Exchange, sunflower and cotton oil dropped by Rs 10 for 10 kg each; groundnut oil rose by Rs 10 despite drop in Saurashtra market by Rs 20. Imported palmolein and soyabean oil ruled unchanged. Rapeseed oil ruled steady.
Shailesh Kataria of Riddhi Brokers told Business Line: “The sentiment improved and volume increased in the physical market during the noon session . Domestic soya oil futures closed higher by Rs 4-6 compared with the previous day. The market may extend gain as stockists entered with fresh orders at lower price.”
Towards the day’s close, Liberty was quoting palmolein at Rs 610, super palmolein Rs 630, super deluxe palmolein Rs 650, soyabean refined oil Rs 680 and sunflower refined oil Rs 765. Ruchi quoted palmolein at Rs 610, soyabean refined oil Rs 670 and sunflower refined oil Rs 715. Allana was quoting palmolein at Rs 608, super palmolein Rs 625, super deluxe Rs 645, soyabean refined oil Rs 675 and sunflower refined oil Rs 745.
In Rajkot, groundnut oil was Rs 1,230 (Rs 1,250) for telia tin and loose (10 kg) declined to Rs 780 (Rs 800). Soyabean arrivals were 3.40 lakh bags and its prices were Rs 3,600-75 in Maharashtra while in Madhya Pradesh it was Rs 3,650-3,800x mandi and Rs 3,800-3,900
Plant delivery. Mustard seed arrivals were 90,000 bags and its prices were Rs 3,200-3,800.Vikram Global Commodities (P) Ltd quoted Rs 675/10 kg for Malaysia super palmolein.
December delivery. Malaysia BMD crude palm oil’s January contracts settled higher at MYR 2,642 (MYR 2,607), February at MYR 2,656 (MYR 2,617) and March at MYR 2,658 (MYR 2,623).
The Bombay Commodity Exchange spot rates (Rs/10 kg) were: groundnut oil 840 (840), soya refined oil 670 (670), sunflower exp. ref. 660 (670), sunflower ref. 715 (725), rapeseed ref. oil 745(745), rapeseed expeller ref. 715 (715) cottonseed ref. oil 645 (655) and palmolein 595 (595).