Edible oil drops on weak demand


Mumbai, August 31:  

Edible oils market extended lose on Thursday on thin demand and in absence of cues from Malaysian market as it was closed.

Liberty’s rates for Palmolein ex JNPT was Rs588 for 1-30 September. Ex STC / Shapur were ₹590 / 591 for up to 30 September. Super palmolein ₹613 up to 30 September.

Allana’s ratesfor 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. Emami’s rates for palmolein was ₹580 up to 20 September.

At Rajkot, groundnut oil declined to ₹1,280 (1,285) for Telia tin and for Loose (10 kg) ease to ₹800 (₹810). Groundnut arrivals at Gondal was 7,000 – 8,000 bags and its prices were ₹600 – 720. Soyabean arrivals in Madhya Pradesh were about 22,000 – 25,000 bags and its prices were ₹2,950 – 3,030 ex Mandi and ₹3,020 – 3,100 plant delivery. Soyabean oil was ₹617 – 620 and Soyabean refined oil was ₹650 – 652.

On National Commodities and Derivatives ExchangeSoyabean refined oil September-17 futures was ₹656.45 (655.90) and October-17 was at ₹662.80 (661.95).

On The Bombay Commodity Exchange spot rates (₹/10 kg) were: groundnut oil 840 (850), soya refined oil 658 (660), sunflower exp. ref. 625 (625), sunflower ref. 685 (685), rapeseed ref. oil 800 (810), rapeseed expeller ref. 770(780), cottonseed ref. oil 675 (680) and Palmolein 570 (571).

(This article was published on August 31, 2017)

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