MARKET DEVELOPMENT
Imported Edible Oils Fall as Stockists Keep off Market
Imported Edible Oils Fall as Stockists Keep off Market
19/03/2014 (Hindu Business Line) - Baring imported palmolein and soyabean refined oil which declined by ₹1 and ₹5 each for 10 kg respectively, all other edible oils remained unchanged on slack demand.
In Mumbai, activities remained thin as stockists kept away from taking fresh position and preferred to fulfil lower price purchases they have made in advance. Only needy buyers bought about 250-300 tonnes of palmolein at ₹630-631 and ₹625-626 ex JNPT. Hope of higher arrivals of oilseeds in producing centres after Holi festival also weighed on sentiment for indigenous oils.
Vikram Global Commodities (P) Ltd quoted ₹660/10 kg for Malaysia super palmolein March delivery. Liberty was quoting palmolein at ₹648, super palmolein ₹668, super deluxe palmolein ₹688. Ruchi quoted palmolein at ₹645, soyabean refined oil ₹675 and sunflower refined oil ₹700. Allana was quoting palmolein at ₹642, soyabean refined oil ₹680 and sunflower refined oil ₹710.
Malaysia BMD crude palm oil’s futures April contracts settled at MYR 2,839 (MYR 2,829), May at MYR 2,767 (MYR 2,771) and June at MYR 2,737 (MYR 2,741). The Bombay Commodity Exchange spot rates (₹/10 kg) were: groundnut oil 770 (770), soya refined oil 675 (680), sunflower exp. ref. 655 (660), sunflower ref. 710 (710), rapeseed ref. oil 710 (710), rapeseed expeller ref. 680 (680) cottonseed ref. oil 675 (675) and palmolein 627 (628).
In Mumbai, activities remained thin as stockists kept away from taking fresh position and preferred to fulfil lower price purchases they have made in advance. Only needy buyers bought about 250-300 tonnes of palmolein at ₹630-631 and ₹625-626 ex JNPT. Hope of higher arrivals of oilseeds in producing centres after Holi festival also weighed on sentiment for indigenous oils.
Vikram Global Commodities (P) Ltd quoted ₹660/10 kg for Malaysia super palmolein March delivery. Liberty was quoting palmolein at ₹648, super palmolein ₹668, super deluxe palmolein ₹688. Ruchi quoted palmolein at ₹645, soyabean refined oil ₹675 and sunflower refined oil ₹700. Allana was quoting palmolein at ₹642, soyabean refined oil ₹680 and sunflower refined oil ₹710.
Malaysia BMD crude palm oil’s futures April contracts settled at MYR 2,839 (MYR 2,829), May at MYR 2,767 (MYR 2,771) and June at MYR 2,737 (MYR 2,741). The Bombay Commodity Exchange spot rates (₹/10 kg) were: groundnut oil 770 (770), soya refined oil 675 (680), sunflower exp. ref. 655 (660), sunflower ref. 710 (710), rapeseed ref. oil 710 (710), rapeseed expeller ref. 680 (680) cottonseed ref. oil 675 (675) and palmolein 627 (628).