MARKET DEVELOPMENT
Bearish Sentiment in Soya Oil
Bearish Sentiment in Soya Oil
09/09/2016 (Hindu Business Line) - Despite improved global cues, bearish sentiment prevailed in majority of oils and oil seeds in Indore mandis with soya refined being quoted at ₹645-48, while soya solvent ruled at ₹615-20 per 10 kg. Palm oil was at ₹670, while Indore cotton oil ruled at ₹675. Groundnut oil quoted lower at ₹1,250-70 . Mustard seeds and raida ruled at ₹4,200. In futures, mustard seeds September and October contracts on the NCDEX closing at ₹4,638 a quintal and ₹4,716. Plant deliveries of mustard seeds for Jaipur line were quoted higher at ₹4,925-30 a quintal on weak availability of mustard seeds with crushers. Arrival of mustard seeds stood at 80,000 bags (65,000 bags last week).