MARKET DEVELOPMENT
Stockists Stay Away From Edible Oils
Stockists Stay Away From Edible Oils
14/03/2014 (Hindu Business Line) - High volatility in futures market amid slack physical demand kept volume thin on the edible oils markets.
Extended loss in Malaysian palm oil futures, despite positive soya reports from Brazil and wide price gap between local refineries and resellers kept stockists away from fresh bets. On Bombay Commodity Exchange, groundnut, sunflower, cotton refined and palmolein ruled unchanged.
Soyabean oil dropped by ₹5 and rapeseed oil by ₹7 for 10 kg. In Rajkot (Saurashtra), groundnut oil eased by ₹15. Vikram Global Commodities (P) Ltd quoted ₹670/10 kg for Malaysia super palmolein March delivery.
Liberty was quoting palmolein at ₹652, super palmolein ₹672, super deluxe palmolein ₹692. Ruchi quoted palmolein at ₹650, soyabean refined oil ₹690 and sunflower refined oil ₹705. Allana was quoting palmolein at ₹650, soyabean refined oil ₹695 and sunflower refined oil ₹710. At Rajkot, groundnut oil declined to ₹1,165 (₹1,180) for telia tin and loose (10 kg) ₹745 (₹750).
Extended loss in Malaysian palm oil futures, despite positive soya reports from Brazil and wide price gap between local refineries and resellers kept stockists away from fresh bets. On Bombay Commodity Exchange, groundnut, sunflower, cotton refined and palmolein ruled unchanged.
Soyabean oil dropped by ₹5 and rapeseed oil by ₹7 for 10 kg. In Rajkot (Saurashtra), groundnut oil eased by ₹15. Vikram Global Commodities (P) Ltd quoted ₹670/10 kg for Malaysia super palmolein March delivery.
Liberty was quoting palmolein at ₹652, super palmolein ₹672, super deluxe palmolein ₹692. Ruchi quoted palmolein at ₹650, soyabean refined oil ₹690 and sunflower refined oil ₹705. Allana was quoting palmolein at ₹650, soyabean refined oil ₹695 and sunflower refined oil ₹710. At Rajkot, groundnut oil declined to ₹1,165 (₹1,180) for telia tin and loose (10 kg) ₹745 (₹750).