MARKET DEVELOPMENT
Edible Oil Remains Under Pressure
Edible Oil Remains Under Pressure
14/06/2017 (Hindu Business Line) - Edible oils prices remained under pressure on Tuesday on back of slack demand amid bearish futures. Malaysian palm oil and Chicago soya oil futures show weak trend, keeping domestic futures down. On BCE barring soya oil and cotton oil which rose by ₹2 and ₹1 each all other edible oils rule flat.
Sources said tracking weak reports from overseas local refineries have kept their rates steady. During the day about 750 tonnes palmolein sold by refineries and resellers at ₹539-542 for ready and June.
Liberty’s rates for Palmolein Ex STC / Shapur were ₹551 / 552 for 5-30 July. Super palmolein at ₹572 for 5-30 July and Soyabean refined oil ex Shapur ₹625 for June.
Allana’s rates for Palmolein were ex Khapoli / IVP ₹550 / 553 for 15-30 June. Soya refined oil ₹625 for 30June. Sunflower refined oil ₹665 for 30June.
Golden Agri’s rate for palmolein was ₹548 for 25 June. Emami quoted palmolein at ₹540 for June.
In Rajkot, groundnut oilincreased by ₹30 to ₹1,390 (1,360) for Telia tin and 875 (855) for Loose (10 kg).
Malaysian crude palm oil June-17 futures close lower at MYR 2,649 (MYR 2,680) and July-17 at MYR2,529 (MYR 2,553).
On National Commodities and Derivatives ExchangeSoyabean refined oil June -17 futures declined to ₹627.85 (629.75) and July-17 dropped to ₹632.65(636.00).
On The Bombay Commodity Exchange spot rates (₹/10 kg) were: groundnut oil 930 (930), soya refined oil 620 (618), sunflower exp. ref. 590 (585), sunflower ref. 650 (650), rapeseed ref. oil 720 (720), rapeseed expeller ref. 690 (690), cottonseed ref. oil 638 (637) and Palmolein 542 (542).
Sources said tracking weak reports from overseas local refineries have kept their rates steady. During the day about 750 tonnes palmolein sold by refineries and resellers at ₹539-542 for ready and June.
Liberty’s rates for Palmolein Ex STC / Shapur were ₹551 / 552 for 5-30 July. Super palmolein at ₹572 for 5-30 July and Soyabean refined oil ex Shapur ₹625 for June.
Allana’s rates for Palmolein were ex Khapoli / IVP ₹550 / 553 for 15-30 June. Soya refined oil ₹625 for 30June. Sunflower refined oil ₹665 for 30June.
Golden Agri’s rate for palmolein was ₹548 for 25 June. Emami quoted palmolein at ₹540 for June.
In Rajkot, groundnut oilincreased by ₹30 to ₹1,390 (1,360) for Telia tin and 875 (855) for Loose (10 kg).
Malaysian crude palm oil June-17 futures close lower at MYR 2,649 (MYR 2,680) and July-17 at MYR2,529 (MYR 2,553).
On National Commodities and Derivatives ExchangeSoyabean refined oil June -17 futures declined to ₹627.85 (629.75) and July-17 dropped to ₹632.65(636.00).
On The Bombay Commodity Exchange spot rates (₹/10 kg) were: groundnut oil 930 (930), soya refined oil 620 (618), sunflower exp. ref. 590 (585), sunflower ref. 650 (650), rapeseed ref. oil 720 (720), rapeseed expeller ref. 690 (690), cottonseed ref. oil 638 (637) and Palmolein 542 (542).