MARKET DEVELOPMENT
Edible Oil Remains Weak
Edible Oil Remains Weak
29/08/2017 (Hindu Business Line) - Sentiment in edible oils remained weak on Monday in absence of demand amid bearish futures.
Local refineries have increased their rates for palmolein by ₹3-5 to match parity. During the day hardly 300 – 350 tonnes of palmolein was resold at ₹572 – 575. Baring that there were no activities. Stockiest preferred to fulfill old commitments. Morale was weak said sources.
Liberty’s rates for Palmolein ex JNPT was ₹588 for 1-15 Sept. Ex STC / Shapur were ₹590 / 591 for 31Aug – 15 Sept. Super palmolein ₹613 for 31Aug – 15 Sept.
Allana’s ratesfor Palmolein were Ex JNPT ₹588 for 15-30 Sept. Ex Khapoli / IVP ₹590/ 593 for 1 – 15 Oct. Soya refined oil ₹675/ 678 for Sept/ 1-15 Oct. Sunflower refined oil ₹690 for Sept – 15 Oct.
Emami’s rate for palmolein was Ex JNPT ₹585 for 15Sept.
At Rajkot, groundnut oil dropped sharply by₹45 to ₹1,275 (1,320) for Telia tin and for Loose (10 kg) declined by ₹30 to₹ 800 (830). Groundnut arrivals at Gondal was 14,000 – 15,000 bags and its prices were ₹600 – 700. Soyabean arrivals in Madhya Pradesh were about 28,000 – 30,000 bags and its prices were 2,950 – 3,050 ex Mandi and ₹3,050 –3,100 plant delivery. Soyabean oil was ₹622 – 625 and Soyabean refined oil was ₹650 – 655.
Malaysian crude palm oil Sept - 17 futures closed lower at MYR 2,723 (MYR 2,733) and Oct -17 ended at MYR2,734 (MYR 2,739).
On National Commodities and Derivatives Exchange Soyabean refined oil Sept-17 futures declined to ₹658.50 (663.90) and Oct-17 dropped to ₹664.90 (670.40).
On The Bombay Commodity Exchange spot rates (₹/10 kg) were: groundnut oil 850 (865), soya refined oil 660 (660), sunflower exp. ref. 630 (625), sunflower ref. 685 (680), rapeseed ref. oil 830 (820), rapeseed expeller ref. 800 (790), cottonseed ref. oil 688 (695) and Palmolein 574 (575).
Local refineries have increased their rates for palmolein by ₹3-5 to match parity. During the day hardly 300 – 350 tonnes of palmolein was resold at ₹572 – 575. Baring that there were no activities. Stockiest preferred to fulfill old commitments. Morale was weak said sources.
Liberty’s rates for Palmolein ex JNPT was ₹588 for 1-15 Sept. Ex STC / Shapur were ₹590 / 591 for 31Aug – 15 Sept. Super palmolein ₹613 for 31Aug – 15 Sept.
Allana’s ratesfor Palmolein were Ex JNPT ₹588 for 15-30 Sept. Ex Khapoli / IVP ₹590/ 593 for 1 – 15 Oct. Soya refined oil ₹675/ 678 for Sept/ 1-15 Oct. Sunflower refined oil ₹690 for Sept – 15 Oct.
Emami’s rate for palmolein was Ex JNPT ₹585 for 15Sept.
At Rajkot, groundnut oil dropped sharply by₹45 to ₹1,275 (1,320) for Telia tin and for Loose (10 kg) declined by ₹30 to₹ 800 (830). Groundnut arrivals at Gondal was 14,000 – 15,000 bags and its prices were ₹600 – 700. Soyabean arrivals in Madhya Pradesh were about 28,000 – 30,000 bags and its prices were 2,950 – 3,050 ex Mandi and ₹3,050 –3,100 plant delivery. Soyabean oil was ₹622 – 625 and Soyabean refined oil was ₹650 – 655.
Malaysian crude palm oil Sept - 17 futures closed lower at MYR 2,723 (MYR 2,733) and Oct -17 ended at MYR2,734 (MYR 2,739).
On National Commodities and Derivatives Exchange Soyabean refined oil Sept-17 futures declined to ₹658.50 (663.90) and Oct-17 dropped to ₹664.90 (670.40).
On The Bombay Commodity Exchange spot rates (₹/10 kg) were: groundnut oil 850 (865), soya refined oil 660 (660), sunflower exp. ref. 630 (625), sunflower ref. 685 (680), rapeseed ref. oil 830 (820), rapeseed expeller ref. 800 (790), cottonseed ref. oil 688 (695) and Palmolein 574 (575).