MARKET DEVELOPMENT
Edible Oils Rule Flat
Edible Oils Rule Flat
10/09/2014 (Hindu Business Line) - The edible oils market ruled flat on Tuesday, tracking weak futures amid need-based physical demand.
Ahead of data from Malaysia Palm Oil Board, which is expected to be bearish, crude palm oil futures ended its six-day rally. On the Bombay Commodity Exchange, barring sunflower expeller refined oil which increased by ₹3, all other edible oils ruled unchanged.
About 200-250 tonnes of palmolein were bought at ₹485-487. There was no demand or activities for other oils.
At the end of the day, Liberty was quoting palmolein at ₹492, super palmolein at ₹512, soyabean refined oil at ₹587. Ruchi was quoting palmolein at ₹487, soyabean refined oil at ₹582 and sunflower refined oil at ₹590 for October. Allana was quoting palmolein at ₹510, super palmolein at ₹535, soyabean refined oil at ₹600 and sunflower oil at ₹600.
In Saurashtra, Rajkot Groundnut Telia tin was higher by ₹10 to ₹1,130 and loose (10 kg) increased to ₹720 (₹710).
On The Bombay Commodity Exchange spot rates (₹/10 kg) were: groundnut oil 760 (760), soya refined oil 582 (582), sunflower exp ref 538 (535), sunflower ref. 595 (595), rapeseed ref oil 708 (708), rapeseed expeller ref 678 (678) cottonseed ref oil 625 (625) and palmolein 488 (488).
Ahead of data from Malaysia Palm Oil Board, which is expected to be bearish, crude palm oil futures ended its six-day rally. On the Bombay Commodity Exchange, barring sunflower expeller refined oil which increased by ₹3, all other edible oils ruled unchanged.
About 200-250 tonnes of palmolein were bought at ₹485-487. There was no demand or activities for other oils.
At the end of the day, Liberty was quoting palmolein at ₹492, super palmolein at ₹512, soyabean refined oil at ₹587. Ruchi was quoting palmolein at ₹487, soyabean refined oil at ₹582 and sunflower refined oil at ₹590 for October. Allana was quoting palmolein at ₹510, super palmolein at ₹535, soyabean refined oil at ₹600 and sunflower oil at ₹600.
In Saurashtra, Rajkot Groundnut Telia tin was higher by ₹10 to ₹1,130 and loose (10 kg) increased to ₹720 (₹710).
On The Bombay Commodity Exchange spot rates (₹/10 kg) were: groundnut oil 760 (760), soya refined oil 582 (582), sunflower exp ref 538 (535), sunflower ref. 595 (595), rapeseed ref oil 708 (708), rapeseed expeller ref 678 (678) cottonseed ref oil 625 (625) and palmolein 488 (488).