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Weak trend in edible oils

Weak trend in edible oils

APRIL 16 2018

 

Edible oils market witnessed a weak trendtracking bearish futures amid slack physical demand. Volume remained thin as stockists stayed away from fresh bulk buys. Sources said that higher reselling pressure continued keeping activities with local refineries absent. During the day, about 500 tonnes palmolein was resold at 710-712 for ready and weekly except that there were no activities. Undercurrent of the market remained weak end of the day. Liberty: Palmolein Ex STC 734 for 5 May and Ex Shapur 739 for April. Super palmolein 764 for April and Sunflower refined oil 790 for April. Allana: Palmolein Ex Khapoli 740 for April any ten days. Soya refined oil 780 and Sunflower refined oil 790 for April. Ruchi: Soya oil  778 for 20 April and Sunflower refi.oil 770 for 21 April. Golden agri: Palmolein 720 ex JNPT for 10 May and ex STC 720 for 22 April-10 May. At Rajkot: groundnut oil prices for Telia Tin jumped to 1,310 (1,270) and Loose (10 kg) increase to 810 (790). Malaysian crude palm oil, May-18 futures closed lower at MYR2,362 (MYR 2,392) and June-18 ended at MYR 2,368 (MYR 2,399). BCE spot rates (/10 kg): groundnut oil 850 (850), soya refined oil 765 (773), sunflower exp. ref. 700 (705), sunflower ref. 765 (770), rapeseed ref. oil 790 (790), rapeseed expeller ref. 760 (760), cottonseed ref. oil 767 (767) and Palmolein 715 (718).

 

Source:https://www.thehindubusinessline.com

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