Commodities

Sentiments in edible oil rule weak

Our Correspondent Mumbai | Updated on January 09, 2018

Sentiments in edible oils market ruled weak on Monday despite firm futures amid price rise by local refineries. Limited activities in physical due to slack demand and rising seasonal new arrivals in producing states kept indigenous oils bearish. On BCE groundnut, cotton and rapeseed oil ruled unchanged. Tracking firm overseas reports palmolein, soyabean oil and sunflower oil gain by ₹1, ₹5 and ₹2 each.

Malaysian palm oil futures ended higher lifting NCDEX soya oil by ₹2 – ₹2.50 till evening. Sources said, due to month end ease demand volume remained lower and under current weak. During the day 200-250 tonnes palmolein at ₹600 –605 and about 100 tonnes soyabean refined oil at ₹660 –663 were resold in the market. Local refineries rates were higher. Liberty: Palmolein Ex Shapur ₹623 for 5 November – 5 December. Super palmolein ₹645 for 5 November – 5 December. Allana: Palmolein Ex Khapoli ₹620 for 1 November – 10 December. Soya refined oil ₹690 for 1- 28 November.

Sunflower refined oil ₹695 up to 28 November. Ruchi: Palmolein ex Patalganga ₹605 for 5 – 15 November and for 10-20 November. Soyabean refi. oil ₹675 and sunflower refi. oil ₹688 up to 10 November.Golden agri: Palmolein ex JNPT ₹610 for November. At Rajkot: groundnut oil Telia Tin was at ₹1,390 (1,380) and Loose (10 kg) at ₹865 (860). Arrivals of groundnut in Gondal and Rajkot were 1.25 – 1.30 lakh bags and its prices were ₹700-880. Soyabean arrivals in Madhya Pradesh were about 2.60 lakh bags and its prices were ex Mandi ₹2,600-2,800 and ₹2,800-2,860 plant delivery.

Malaysian crude palm oil, November -17 settled higher at MYR2,806 (MYR 2,786) and December.17 increased to ₹2,815 (2,795). On NCDEX: Soyabean refined oil November-17 was ₹677.30 (676.15) and December.17 was at ₹686.50 (₹685). On BCE spot rates (₹/10 kg) were: groundnut oil 905 (905), soya refined oil 670 (665), sunflower exp. ref. 622 (622), sunflower ref. 680 (678), rapeseed ref. oil 800 (800), rapeseed expeller ref. 770 (770), cottonseed ref. oil 670 (670) and Palmolein 603 (602).

Published on October 30, 2017

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