Commodities

Edible oil stockists place fresh bets

Our Correspondent Mumbai | Updated on June 10, 2014 Published on June 10, 2014

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The edible oils market witnessed a mixed trend on Tuesday with groundnut and cotton refined oil gaining ₹10 and ₹1 each on firm reports from Saurashtra. Palmolein increased by ₹3/10 kg on back of higher physical demand amid extended gain in domestic soya oil futures thus encouraging stockists for new commitments. Soyabean, sunflower and rapeseed oil ruled unchanged. Local traders bought nearly 700-800 tonnes of palmolein at ₹553-555 directly from the local refineries. Vikram Global Commodities (P) Ltd, Chennai, quoted ₹600/10 kg for Malaysian super palmolein June delivery. Liberty was quoting palmolein at ₹555, super palmolein ₹570 and soyabean refined oil ₹645 up to July 10. Ruchi was quoting palmolein at ₹553, soyabean refined oil ₹635 and sunflower refined oil ₹640. Allana was quoting palmolein for ₹553/556 ex JNPT/Khapoli, soyabean refined oil ₹637 and sunflower refined oil ₹655.

In Saurashtra, groundnut oil Telia tin was up ₹40 to ₹1,100 and loose (10 kg) by ₹30 to ₹700.

Malaysia BMD crude palm oil June contracts settled lower at MYR 2,386 (MYR 2,410), July MYR 2,392 (MYR 2,416) and August MYR 2,385 (MYR 2,412).

BCE spot rates (₹/10 kg): groundnut oil 740 (730), soya refined oil 640 (640), sunflower exp. ref. 575 (575), sunflower ref. 645 (645), rapeseed ref. oil 670 (670), rapeseed expeller ref. 640 (640) cottonseed ref. oil 636 (635) and palmolein 553 (550).

Published on June 10, 2014
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