MARKET DEVELOPMENT
Firm Trend in Edible Oils
Firm Trend in Edible Oils
27/09/2017 (Hindu Business Line) - Edible oils market witnessed a firm trend on Tuesday on the back of bullish futures amid higher physical demand for ready and forward. Firm US dollar which makes imports costlier also weighed. Malaysian palm oil, Chicago soya oil and NCDEX soya oil showed a firm trend lifting sentiments in domestic markets.
Sources said during the day Liberty sold about 550 tonnes palmolein at for October. Allana made sell commitments for about 1,000 tonnes palmolein for weekly and October. Emami sold 800 tonnes palmolein for 20 October. Barring that about 50 tonnes soyabean refined oil resold for ready at ₹665. Morale was firm end of the day.
Liberty: Palmolein ex JNPT ₹612 for 10 October. Ex STC / Shapur were ₹614 / 615 for 31 October. Super palmolein ₹637 up to 31October.
Allana: Palmolein Ex Khapoli ₹615 for 1-20 October. Soya refined oil₹685 for October- 15 November. Sunflower refined oil ₹700 up to October.
Ruchi: Palmolein ₹605, Soyabean refined oil ₹670 and Sunflower refined oil ₹695 for October.
Golden agri: Palmolein ₹600 for 20 October. Emami: Palmolein ₹595.25 for 20 October.
At Rajkot: groundnut oil Telia Tin jumped to ₹1,340 (1,290) and Loose (10 kg) increased to ₹830 (800). Groundnut arrivals in Gondal – Rajkot were about 23,000 – 24,000 bags and its prices was ₹600-715. Governments decision to purchase groundnut at higher MSP Price soon has lift the sentiments and prices in the market.
Malaysian crude palm oil, October- 17 futures increase to MYR 2,755 (MYR 2,715) and November -17 ended higher at MYR2,748 (MYR 2,690).
On the NCDEX: Soyabean refined oil October-17 futures was up at ₹678.50 (676.90) and November-17 was higher at Rs ₹680.00 (677.00).
On BCE spot rates (₹10 kg) were: groundnut oil 860 (840), soya refined oil 665 (665), sunflower exp. ref. 635 (635), sunflower ref. 700 (700), rapeseed ref. oil 790 (790), rapeseed expeller ref. 760 (760), cottonseed ref. oil 678 (680) and Palmolein 595 (594).
Sources said during the day Liberty sold about 550 tonnes palmolein at for October. Allana made sell commitments for about 1,000 tonnes palmolein for weekly and October. Emami sold 800 tonnes palmolein for 20 October. Barring that about 50 tonnes soyabean refined oil resold for ready at ₹665. Morale was firm end of the day.
Liberty: Palmolein ex JNPT ₹612 for 10 October. Ex STC / Shapur were ₹614 / 615 for 31 October. Super palmolein ₹637 up to 31October.
Allana: Palmolein Ex Khapoli ₹615 for 1-20 October. Soya refined oil₹685 for October- 15 November. Sunflower refined oil ₹700 up to October.
Ruchi: Palmolein ₹605, Soyabean refined oil ₹670 and Sunflower refined oil ₹695 for October.
Golden agri: Palmolein ₹600 for 20 October. Emami: Palmolein ₹595.25 for 20 October.
At Rajkot: groundnut oil Telia Tin jumped to ₹1,340 (1,290) and Loose (10 kg) increased to ₹830 (800). Groundnut arrivals in Gondal – Rajkot were about 23,000 – 24,000 bags and its prices was ₹600-715. Governments decision to purchase groundnut at higher MSP Price soon has lift the sentiments and prices in the market.
Malaysian crude palm oil, October- 17 futures increase to MYR 2,755 (MYR 2,715) and November -17 ended higher at MYR2,748 (MYR 2,690).
On the NCDEX: Soyabean refined oil October-17 futures was up at ₹678.50 (676.90) and November-17 was higher at Rs ₹680.00 (677.00).
On BCE spot rates (₹10 kg) were: groundnut oil 860 (840), soya refined oil 665 (665), sunflower exp. ref. 635 (635), sunflower ref. 700 (700), rapeseed ref. oil 790 (790), rapeseed expeller ref. 760 (760), cottonseed ref. oil 678 (680) and Palmolein 595 (594).