Demand in soya oil continued to be sluggish even as Malaysian palm oil futures closed higher at 45 + on strong CBOT projections. Though local mandis remained closed on Monday for Shomvati amavasya , in private trading soya refined ruled flat at Rs 633-635 for 10 kg on scattered buying interest.

On the back of declining demand in the domestic market, soya refined here on Monday saw some scattered buying interest at Rs 631-632/10 kg. On Saturday also soya refined was at Rs 633-636 for 10 kg on weak domestic demand.

Similarly soya solvent also ruled flat at Rs 595-598 against Rs 597-598 on Saturday in absence of interested buying.

Contrary to soya oil prices in the physical market, soya refined commanded slightly higher prices in the futures with soya refined September contract on the NBOT closing marginally higher at Rs 663.30 after opening at Rs 663 in the morning. Soya refined contract on the NBOT, however, closed lower on Saturday with its September contract closing at Rs 662.80 after opening at Rs 664.50 in the morning. On the NCDEX, however, soya oil September contract closed marginally lower at Rs 663.30 after opening at Rs 664, while its October contract closed higher at Rs 652.75 against Rs 650/10 kg in the morning.

Bearish sentiment also prevailed in soyabean on lack of enthusiastic buying with soyabean prices on Monday being quoted at Rs 2,280-2,340 a quintal. Because of closure of majority of mandis , arrival in the State was reported to be around 5,000-6,000 bags. Plant deliveries in soyabean also ruled flat at Rs 2,390-2,420. According to traders, soyabean may witness marginal gain after Eid festival with rise in domestic demand in soya DOC which was quoted at Rs 17,500-17,800 against Rs 18,500 a quintal in the domestic market.

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