MARKET DEVELOPMENT
Groundnut Oil Remains up on Rising Demand
Groundnut Oil Remains up on Rising Demand
11/10/2017 (Business Standard) - Groundnut oil exports could take a hit over high domestic prices Govt cuts oil import plans from Iran by a quarter over gas field row Note ban impact: India oil demand in Q1 grew only 0.4% versus China's 2.2% Demand security equally important for oil firms: Pradhan in Istanbul In a first, Reliance Industries buys 1 mn barrels of crude oil from the US.
Groundnut oil prices spurted by Rs 200 per quintal at the wholesale oils and oilseeds market today on increased demand from retailers against tight supplies.
Movements in other edible oils were restricted in the absence of any worthwhile activity.
Castor oil in the non-edible section traded higher on an uptick in demand from consuming industries.
Traders said besides rising demand from retailers in view of festive season, tight stocks position on fall in supplies from growing regions mainly kept groundnut oil prices higher.
In the national capital, groundnut mill delivery (Gujarat) oil rose by Rs 200 to Rs 8,800 per quintal.
In the non-edible section, castor oil recovered by Rs 100 to Rs 9,100-9,200 per quintal.
Following are today's quotations (in Rs per quintal):
Oilseeds: Mustard seed Rs 2,950-3,050 and Groundnut seed Rs 2,150-2,900. Vanaspati Ghee (15-litre tin) Rs 800-1,000.
Edible oils: Groundnut Mill Delivery (Gujarat) Rs 8,800, Groundnut Solvent Refined (per tin) Rs 1,600-1,700, Mustard expeller (Dadri) Rs 8,000, Mustard Pakki Ghani (per tin) Rs 1,300-1,345, Mustard Kachi Ghani (per tin) Rs 1,350-1,450, Sesame Mill delivery Rs 7,700, Soybean Refined Mill Delivery (Indore) Rs 6,800, Soybean Degum (Kandla) Rs 6,400, Crude Palm Oil (Ex-Kandla) Rs 4,850, Cottonseed Mill Delivey (Haryana) Rs 6,500, Palmolein (RBD) Rs 6,050, Palmolein (Kandla) Rs 6,100 and Coconut (per tin) Rs 2,050-2,100.
Non-edible oils: Linseed Rs 8,800, Castor Rs 9,100-9,200, Neem Rs 5,350-5,450.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Groundnut oil prices spurted by Rs 200 per quintal at the wholesale oils and oilseeds market today on increased demand from retailers against tight supplies.
Movements in other edible oils were restricted in the absence of any worthwhile activity.
Castor oil in the non-edible section traded higher on an uptick in demand from consuming industries.
Traders said besides rising demand from retailers in view of festive season, tight stocks position on fall in supplies from growing regions mainly kept groundnut oil prices higher.
In the national capital, groundnut mill delivery (Gujarat) oil rose by Rs 200 to Rs 8,800 per quintal.
In the non-edible section, castor oil recovered by Rs 100 to Rs 9,100-9,200 per quintal.
Following are today's quotations (in Rs per quintal):
Oilseeds: Mustard seed Rs 2,950-3,050 and Groundnut seed Rs 2,150-2,900. Vanaspati Ghee (15-litre tin) Rs 800-1,000.
Edible oils: Groundnut Mill Delivery (Gujarat) Rs 8,800, Groundnut Solvent Refined (per tin) Rs 1,600-1,700, Mustard expeller (Dadri) Rs 8,000, Mustard Pakki Ghani (per tin) Rs 1,300-1,345, Mustard Kachi Ghani (per tin) Rs 1,350-1,450, Sesame Mill delivery Rs 7,700, Soybean Refined Mill Delivery (Indore) Rs 6,800, Soybean Degum (Kandla) Rs 6,400, Crude Palm Oil (Ex-Kandla) Rs 4,850, Cottonseed Mill Delivey (Haryana) Rs 6,500, Palmolein (RBD) Rs 6,050, Palmolein (Kandla) Rs 6,100 and Coconut (per tin) Rs 2,050-2,100.
Non-edible oils: Linseed Rs 8,800, Castor Rs 9,100-9,200, Neem Rs 5,350-5,450.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)