MARKET DEVELOPMENT
Weak Cues Drag Edible Oils
Weak Cues Drag Edible Oils
08/07/2016 (Hindu Business Line) - Edible oils market witnessed a sharp drop on Friday tracking drastic fall in Malaysian palm oil, weak Chicago soya futures amid slack physical demand. Following bearish overseas reports local refineries cut their rates for imported oils by ₹15 per 10 kg.
On the BCE, palmolein and soya refined oil declined by ₹13 and ₹14 each. Groundnut and sunflower oil eased by ₹20 and ₹5 each. At the end of the day, Liberty was quoting Palmolein ₹542/₹543 ex Ghatkopar / Shapur for 15 July, Super palmolein at ₹570 for 15July, Soyabean refined oil ex Shapur ₹530 for July.
Ruchi was quoting Soyabean refined oil ₹617 for July and ₹621 for 1-10Aug. Allana’s rate was for Palmolein Ex Khopoli ₹535 for 30July and ex JNPT ₹531 for 30July, Soya refined oil ₹625 for 1-15 Aug, sunflower refi. oil at ₹735 for 30July. At Rajkot Groundnut oil Telia tin was up at ₹2190 (2170) and Loose (10 kgs) dropped to ₹1375 (1400).
On the BCE, palmolein and soya refined oil declined by ₹13 and ₹14 each. Groundnut and sunflower oil eased by ₹20 and ₹5 each. At the end of the day, Liberty was quoting Palmolein ₹542/₹543 ex Ghatkopar / Shapur for 15 July, Super palmolein at ₹570 for 15July, Soyabean refined oil ex Shapur ₹530 for July.
Ruchi was quoting Soyabean refined oil ₹617 for July and ₹621 for 1-10Aug. Allana’s rate was for Palmolein Ex Khopoli ₹535 for 30July and ex JNPT ₹531 for 30July, Soya refined oil ₹625 for 1-15 Aug, sunflower refi. oil at ₹735 for 30July. At Rajkot Groundnut oil Telia tin was up at ₹2190 (2170) and Loose (10 kgs) dropped to ₹1375 (1400).