Global cues lift edible oil


Mumbai, August 24:  

In Edible oils market palmolein and groundnut oil rose by ₹4 and ₹5 each on Thursday tracking firm overseas futures and expectation of higher demand coming days.

Liberty’s rates for Palmolein ex JNPT was ₹585 for 1-15 September. Ex STC / Shapur were ₹587 / 588 for 25 August15 September palmolein ₹610 for 25 August-15 September.

Allana’s ratesfor Palmolein were ex Khapoli / IVP ₹582/ 583 for 1-15 October. Soya refined oil ₹675 for 1-15 October. Sunflower refined oil ₹690 for August / September.

Golden Agri’s rate for palmolein was ₹585 for 30 September.

At Rajkot, groundnut oil was at ₹1,320 (1,325) for Telia tin and for Loose (10 kg) was ₹830 (830). Groundnut arrivals at Gondal was 12,000 – 13,000 bags and its prices were ₹620-750. Soyabean arrivals in Madhya Pradesh were about 27,000 – 28,000 bags and its prices were ₹2.,950-3,050 ex Mandi and ₹3,050 – 3,125 plant delivery. Soyabean oil was ₹625 – ₹630 and Soyabean refined oil was ₹655 – 660.

Malaysian crude palm oil September 17 futures closed higher at MYR 2,750 (MYR 2,723) and October -17 ended up at MYR2,766 (MYR 2,727).

On National Commodities and Derivatives Exchange Soyabean refined oil September-17 futures jumped to ₹666.20 (₹660.85) and October-17 was up at ₹672.80 (669.05).

On The Bombay Commodity Exchange spot rates (₹/10 kg) were: groundnut oil 865 (860), soya refined oil 660 (660), sunflower exp. ref. 625 (625), sunflower ref. 680 (680), rapeseed ref. oil 820 (820), rapeseed expeller ref. 790 (790), cottonseed ref. oil 695 (695) and Palmolein 575 (571).

(This article was published on August 24, 2017)

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