Edible oils in bearish grip

Our Correspondent Indore | Updated on June 25, 2020 Published on June 25, 2020

Despite rise in futures, most of the oils at the mandis in Indore traded low on weak global cues and slack demand. Soya refined Indore (Ruchi) on Thursday was quoted at ₹842 for 10 kg each, soya refined (Prakash) at ₹845, soya refined (Bajrang) at ₹840, soya refined Neemuch (MS Solvex) at ₹824, Dhanuka ₹820, soya refined Mandsaur (Amrit) ₹823, soya refined MS Pachore ₹832, while soya refined Kalapipal (Ambika) ruled at ₹840/10 kg, respectively. Soya solvent, on the other hand, declined to ₹795-800.

Similarly, palm oil (Indore) went for ₹855 for 10 kg, palm oil (Bombay) ₹830, while cotton oil (Gujarat) ruled at ₹800 for 10 kg, respectively. Groundnut oil (Indore) ruled at ₹1,360-80 for 10 kg, groundnut oil (Gujarat) at ₹1,350, while groundnut oil (Bombay) ruled at ₹1,380 for 10 kg.

Weak arrival perked up mustard seeds (Nimar) to ₹4,150 a quintal, while raida was quoted at ₹3,950. Plant deliveries were quoted lower at ₹4,825-30 a quintal on weak demand in mustard oil.

The arrival of mustard seeds across the country today was recorded at 3.25 lakh bags. Rajasthan led the arrival with 2 lakh bags, followed by Uttar Pradesh 55,000 bags, Madhya Pradesh at 15,000 bags, Gujarat and Haryana/Punjab at 10,000 bags each, while 35,000 bags were offloaded elsewhere in the country.

Published on June 25, 2020
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.