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Edible oils slip on bearish cues

Edible oils slip on bearish cues

MAY 16 2018


Edible oils turned weak tracking slack demand amid bearish overseas futures. Sharp recovery in rupee also played a key role in dragging the morale of the market. On the BCE, soya, sunflower and cotton oil declined by 1 per 10 kg and palmolein ruled steady. During the day, hardly 250-300 tonnes of palmolein were resold at 718-721 for ready. Local refineries kept their rates unchanged. At Rajkot, groundnut oil telia tin dropped by 10 to 1,290 and loose (10 kg) declined to 790 (800). BCE spot rates (/10 kg): groundnut oil 845 (845), soya ref. 752 (753), sunflower exp. ref. 700 (705), sunflower ref. 757 (758), rapeseed ref. 805 (800), rapeseed exp. ref. 775 (770), cottonseed ref. 762 (763) and palmolein 720 (720).



Technical Research
Monday, January 21, 2019
MCXCrude Palm Oil - MCXJan19553.7558.5552.3554.1
NCDEXMustard SeedFeb193880392938803891
NCDEXSoy OilFeb19766772763766.7
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