Commodities

Bearishness continue in edible oil

Our Correspondent Mumbai | Updated on January 09, 2018 Published on August 29, 2017

As expected edible oils market extended lose on Tuesday on thin volume amid weak futures. Heavy rain in city disturbed the loading-unloading activities at port and arrivals from producing centers.

Sources said due to heavy rain loading – unloading activities at port and dispatches towards city were severally affected. Stockiest stayed away from fresh bet. During the day hardly 100 – 150 tonnes of palmolein was resold at ₹570 – 572.

Liberty’s rates for Palmolein ex JNPT was ₹588 for 1-15 September. Ex STC / Shapur were ₹590 / 591 for 31August-15 September. Super palmolein ₹613 for 31August-15 September.

Allana’s rates for Palmolein were Ex JNPT ₹585 for 15-30 September. Ex Khapoli / IVP ₹588/ ₹591 for 1 – 15 October. Soya refined oil ₹670/ 673 for September/ 1-15 October. Sunflower refined oil ₹690 for up to 15 October.

Golden agri’s rate for palmolein was Ex JNPT ₹575 for September.

At Rajkot, groundnut oil was up at ₹1,285 (1,275) for Telia tin and for Loose (10 kg) increase to ₹810 (800). Groundnut arrivals at Gondal was 8,000 – 10,000 bags and its prices were ₹600 – 720. Soyabean arrivals in Madhya Pradesh were about 20,000 – 22,000 bags and its prices were ₹2,950 – 3,050 ex Mandi and ₹3,050 –3,100 plant delivery. Soyabean oil was ₹620 – 625 and Soyabean refined oil was ₹650 – 655.

Malaysian crude palm oilSeptember - 17 futures closed lower at MYR 2,680 (MYR 2,723) and October -17 ended lower at MYR2,705 (MYR 2,733).

On National Commodities and Derivatives Exchange Soyabean refined oil September-17 futures declined to ₹653.45 (655.80) and October-17 dropped to ₹659.95 (661.85).

On The Bombay Commodity Exchange spot rates (₹/10 kg) were: groundnut oil 850 (850), soya refined oil 660 (660), sunflower exp. ref. 625 (630), sunflower ref. 680 (685), rapeseed ref. oil 810 (830), rapeseed expeller ref. 780 (800), cottonseed ref. oil 680 (688) and Palmolein 571 (574).

Published on August 29, 2017
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