Best Stock Advisory Company in Indore, Cooking oils slip on weak cues

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Edible oils market witnessed a bearish trend on Thursday tracking weak futures amid slack demand for ready. Malaysian palm oil, Chicago soya oil, and NCDEX soya oil futures were down on expectation of bearish palm oil data to be released on Tuesday. On the BCE, groundnut, sunflower, cotton oil and palmolein declined by ₹5 per 10 kg each as local refineries have cut their rates in line with bearish foreign markets. With limited activities, morale was weak, said sources.

Sources said activities for nearby delivery remained thin but considering attractive pricing volume for 10 – 15 January witnessed jump. Stockists bought about 1,500 tonnes of palmolein at ₹630-631 and about 1,500-2,000 tonnes soya oil at ₹700-701 both for delivery up to 10- 15 Jan directly from local refineries. Traders also bought 80-100 tonnes of palmolein at ₹630-632 for ready.

Liberty: Palmolein Ex Shapur ₹655, Super palmolein ₹675, Sunflower refined oil ₹750.

Allana: Palmolein Ex Khapoli ₹655, Soya refined oil ₹735, Sunflower refined oil ₹740.

Ruchi: Palmolein ₹640, Soya oil ₹723, and Sunflower refi.oil ₹733.

Golden Agri: Palmolein ex JNPT ₹640.

At Rajkot, groundnut oil Telia tin dropped to ₹1,420 (1,430) and Loose (10 kg) declined to ₹890 (900).

BCE spot rates (₹/10 kg) were: groundnut oil 925 (930), soya refined oil 710 (710), sunflower exp. ref. 665 (670), sunflower ref. 720 (725), rapeseed ref. oil 820 (820), rapeseed expeller ref. 790 (790), cottonseed ref. oil 695 (700) and Palmolein 635 (640).

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