ICAR-IARI Developed Low Erucic acid Indian Mustard Variety
ICAR - Indian Agricultural Research Institute (ICAR-IARI), New Delhi has developed a
low erucic acid Indian mustard variety namely Pusa Mustard-30 (PM-30).
Oil prices shoot up
A fresh rise in groundnut oil prices
provided the main feature of trading on the oils and oilseeds market. The groundnut oil
firmed up due to shortage of ready stocks following thin supply. Elsewhere, imported
palmolein, castor oil and its seeds rose on good support amidst restricted arrivals from
producing centres. In the edible section, groundnut oil shot up by Rs 12 per 10 kg to at
Rs 470 as against the previous days close of Rs 458. Imported RBD palmolein firmed
up further to Rs 372 from the last close of RS 370. In the non-edible section, castor oil
commercial rose by Rs 2 to Rs 349 on fresh demand soap manufacturers, while castorseed
bold Madras rose to Rs 1,595 from the previous close of Rs 1585.
Vegetable oil dip
Edible oils trend weak on the local
market due to poor stockist offtake amid good supply. Castor oil and castorseed also
declined further on poor demand. Imported RBD palmolein declined by Rs 4 to Rs 365 from
the last close of Rs 369. Groundnut oil dropped by Rs 2 to Rs 452 from yesterdays Rs
454. Castor oil commercial fell further by Rs 3 to Rs 347 from the previous close of Rs
350.
Groundnut oil recovers
Groundnut oil prices recovered smartly on
the oils and oilseeds market here on heavy stockist buying at lower levels and closed with
handsome gains. Imported palmolein, castor oil and its seeds also showed good gains.
However, futures prices declined sharply on heavy offloading. Groundnut oil shot up by Rs
9 to Rs 482 from yesterday's close of Rs 473 as stockists look advantage of the prevailing
low prices and bought in large quantity.
Groundnut oil plunges
Groundnut oil fell steeply on the oils
and oilseeds market on Thursday due to poor offtake in the face of good supply. Elsewhere,
castorseed futures shot up further on increased stockists offtake in line with heavy
export demand. In the edible section, groundnut oil crashed by Rs 9 to Rs 473 from
yesterday's close of Rs 482, while imported RBD palmolein eased to Rs 374 from the last
close of Rs 375.
Edible oils dip
A modest fall in imported palmolein
provided the main feature of trading on the oils and oilseeds market here today. The
imported palmolein suffered on increased offerings from stockists in the wake of a fall in
prices in Malaysia. Groundnut oil also reacted following buyers resistance at higher
levels. Castor oil and its seeds, however, remained in positive territory on continued
buying support. In the edible section, imported RBD palmolein declined by Rs 8 to close at
Rs 375 as against the last close of Rs 383.
Edible oils firm up
A firm trend continued to rule on the
oils and oilseeds market in Mumbai on persistent demand from retailers. Elsewhere, castor
oil and its seeds also edged up further on renewed enquiries from soap industries. In the
edible section, groundnut oil moved up further to Rs 483 from the last close of Rs 481.
Imported RBD palmolein also looked up to Rs 383 from the overnight closing levels of Rs
380. Castor oil commercial inched up looked up by Rs 2 to Rs 335, while castorseeds bold
madras looked by Rs 10 to Rs 1,525. However, linseed oil held steady at Rs 475. In the
futures section, castorseeds December contract ruled higher at Rs 1,590 on good export
enquiries as against Rs 1,577 previously. The February contract also ended higher at Rs
1,638 as compared to previous close of Rs 1,629.
Edible oils
A fresh rally in groundnut oil prices
characterised the trading on the oils and oilseeds market in Mumbai. The groundnut oil
improved following restricted arrivals amidst good advanced on good buying support. In the
edible section, groundnut oil shot up by Rs 16 to Rs 481 from he weekend levels of Rs 465.
Imported RBD palmoelin firmed up by Rs 6 to Rs 380 from the last close of Rs 374 on firm
advice from Malaysia.
Edible oils up
A fresh increase in edible oil prices
characterised the trading on the oils and oilseeds market here today on festive demand.
Castor oil and its seeds showed marginal gain on low-key demand. In the edible section,
imported RBD palmolein rose to Rs 364 from the last close of Rs 360, while groundnut rose
further to Rs 447 from the previous close of Rs 445 on good demand. Castor oil commercial
edged up to Rs 1,430 from the previous close of Rs 1,430 from the previous close of Rs
1,425. Linseed oil however moved in a narrow range and closed steady at the last level of
Rs 450. In the futures section, castorseed December delivery contract opened at Rs 1,542,
after moving narrowly on small bouts of activity and closed at the same level, showing a
marginal gain of Rs 6 over the last close of Rs 1,536.
Groundnut oil spurts
A modest increase in groundnut oil prices
on the oils and oilseeds market in Mumbai today on good demand ahead of Diwali. Linseed
oil declined on lack of poor demand from paint industries. In the edible section,
groundnut oil rose to Rs 445 from the last closing levels of Rs 440. However, imported RBD
palmolein closed unaltered at Rs 360. In the non-edible section, linseed oil eased back to
Rs 450 from the overnight closing levels of Rs 460.
Palmolein gains
A modest recovery in imported palmolein
characterised the trading on the oils and oilseeds market in Mumbai following a steep rise
in its prices in Malaysia. However, groundnut oil, castor oil and its seeds moved in a
narrow range and closed steady. Castorseed futures and linseed oil, on the other hand,
improved on renewed demand. In the edible section, imported RBD palmolein rose to Rs 360
from the last close of Rs 355.
Edible oils slip
A subdued to steady trend was noticed on
the oils and oilseeds market in Mumbai. Both edible and industrial oils remained under
pressure due to increased offering from stockists amidst poor demand from bulk consumers.
In the futures section, castorseed December delivery contract at Rs 1,545, after moving in
a narrow range closed at the same levels.
Edible oil looks up
A marginal recovery in groundnut oil characterized the trading on the
oils and oilseeds market in Mumbai today on fresh demand from retailers amidst normal
supply. Elsewhere, castor oil and its seeds moved in a narrow range and closed steady. In
the edible section, groundnut oil moved up to Rs 456 from the overnight closing levels of
Rs 450. Imported RBD palmolein also ruled firm for the second straight day on good advice
from Malaysia. The oil was quoted higher at Rs 356 against the last close of Rs 354. In
the industrial oils, castor oil commercial, castorseed bold Madras and linseed oil held
steady at Rs 314, Rs 1,420 and Rs 450 respectively on a dull activity.
Edible oils steady
A fresh surge in imported palmolein
characterized the trading on the oils and oilseeds market in Mumbai today following a rise
in its prices in Malaysia. In the edible section, imported RBD palmolein edged up by a
rupee to Rs 354, while groundnut oil moved in a narrow range and closed at the previous
days closing marks of Rs 450. Castor oil commercial and castorseed bold Madras eased
to Rs 314 and Rs 1,420 from the previous close of Rs 315 and Rs 1,425 respectively. In the
futures market, castorseed December delivery contract opened at Rs 1,546 and after falling
further to a low of Rs 1,539, managed to recover on fresh low-level support and closed at
Rs 1,547, still showing a loss of Rs 6 over the last close of Rs 1,553.
Edible oils slip as demand fails to pick up
A modest fall in edible and industrial
oils characterised the trading on the oils and oilseeds market here today. Prices of the
both groundnut and imported palmolein eased back further on increased arrivals from
producing centres amidst thin demand from retailers. In the edible section, groundnut oil
dropped Rs 6 to Rs 450 from the last weekend close of Rs 456, while imported RBD palmolein
declined to Rs 353 from the last close of Rs 356.
Castorseed firm
A subdued trend prevailed on the oils and
oilseeds market in Mumbai. In the edible section, groundnut oil declined to Rs 456 from
the last close of Rs 462. Imported RBD palmolein, however, improved by a rupee and closed
at Rs 354. Castor oil commercial moved up to Rs 314. Castorseed bold Madras was sought Rs
10 higher at Rs 1,430 against Rs 1,420. Linseed oil also rose to Rs 465 from last close of
Rs 460 on better Kolkata advice. Castorseed December contract resumed firm at Rs 1,592 and
closed at Rs 1,605, showing a fresh gain of Rs 25 against last close Rs 1,580.
Edible oil firm
A modest recovery in groundnut oil marked
the trading on the oils and oilseeds market in Mumbai. The oil improved following
restricted arrivals from producing centres. Imported palmolein also ruled firm on good
demand.
In the edible section, groundnut oil looked up to Rs 462 against the
last close up to Rs 462 against the last close of Rs 460, while imported RBD palmolein
advanced by a rupee to close at Rs 353. In the non-edible section, castor oil commercial,
castorseed bold Madras remained unchanged at Rs 314 and Rs 1,420 respectively. Copra white
and linseed oil also ended at the previous day's closing levels of Rs 500 and Rs 465
respectively.
Veg oils mixed
A divergent trend was noticed on the oils
and oilseeds market in Mumbai. Groundnut oil eased on increased arrivals while imported
palmolein improved following restricted arrivals. Elsewhere, castor oil and its seeds
fared better with narrow movements. In the edible section, imported RBD palmolein edged up
to Rs 347 from the previous close of Rs 346 on some interest. On the other hand, groundnut
oil slipped by Rs 3 to Rs 463 from the last close of Rs 466 due to poor support.
Edible oils react
Edible and industrial oils lost support
on the oils and oilseeds market in Mumbai on buyers resistance at the higher levels.
Groundnut oil fell to Rs 458 from the previous close of Rs 462 as bulk consumers refrained
from buying, sources said. Imported RBD palmolein eased to Rs 345 from Wednesday's close
Rs 347 on poor advice from Malaysia.
Groundnut oil heats up on festive demand
Groundnut oil prices continued to rule
firm for the second straight day today due to increased demand from retailers. Imported
palmolein also looked up on firm advice from Malaysia. In the edible section, groundnut
oil shot up further by Rs 9 to Rs 462 from the last close of Rs 453 on festive demand.
Imported RBD palmolein rose to Rs 347 from the previous close of Rs 345 following a rise
in the Malaysian prices, where the December crude palm oil contract had rallied to a
intra-day high of 1,395 ringgit per metric tonne on shortcovering, sources said.
Oils firm up
A modest increase in castorseeds futures
marked trading on the oils and oilseeds market in Mumbai. Castorseeds futures shot up
following fresh enquiries from exporters. Elsewhere, groundnut oil and imported palmolein
both improved marginally.
Groundnut oil slips
A fresh fall in groundnut oil prices
provided the main feature of trading on the oils and oilseeds market in Mumbai. The oil
lost support on higher arrivals amidst thin demand from retailers. In the edible section,
groundnut oil fell by Rs 10 to Rs 445 from previous closing levels of Rs 455. In the
future section, castorseed December contract opened better at Rs 1,588 and after touching
a high of Rs 1590, fell to close at the day's lowest level of Rs 1,576, down Rs 6 from
last close of Rs 1,582.
Oil mixed
Groundnut recovered some of its recent
losses on the oils and oilseeds market in Mumbai today on fresh demand at the reduced
level, while imported palmolein weekend further on selling spree. In the edible section,
groundnut oil improved by Rs 5 at Rs 455 against the last weekend levels of Rs 450.
Imported RBD shed a rupee at Rs 345 on poor advice from Malaysia.
Edible oils slip
An easy trend was noticed on the oils and
oilseeds market in Mumbai today as both edible and industrial oils on increased offerings
from stockists amidst thin demand. Groundnut oil declined to Rs 512 from the last close of
Rs 515, while imported RBD palmolein fell to Rs 362 over the previous close of Rs 363.
Castor oil commercial, castorseed bold Madras and linseed oil closed at the previous close
of Rs 325, Rs 1,475 and Rs 465 respectively.
Edible oils up Rs 1,500/t on fixing of Soya tariff
The fixation of fixed tariff value for
soybean has caused a rise in domestic prices of edible oils with the importers now having
to pay duty at a much higher price of $542 a tonne. It could also lead to a marginal fall
in the imports of soyabean oil in favour of crude palm oil. Prices of edible oils has been
ruling high on Tuesday on account of the fixation of tariff value for soya-oil and there
has been an average increase in rates by around Rs 1,000-Rs 1,500 a tonne, an official of
Rajdhani Vegetable Oils Suppliers Association said.
Edible oils up
Prices of edible oils shot up on the oils
and oilseeds market in Mumbai today on good festive buying. Industrial oils also firmed up
on better offtake. In the edible oils, imported RBD palmolein looked up further by Rs 6 to
close at Rs 363 from the last close of Rs 357, while groundnut oil improved by Rs 5 to Rs
515 against the previous close of Rs 510. Linseed oil found fresh support from paint
manufacturers and rose by Rs 5 to Rs 456. However, castor oil commercial and castorseed
bold Madras settled at the previous close of Rs 325 and Rs 1,475 respectively on thin
demand.
Soya oil tariff
The government on Monday fixed the base
import price of crude Soya oil, which is used to calculate tariffs, at $542 per tonne. The
government kept unchanged the base prices of palm oils, according to a notification. The
government fixes base prices to check the loss of revenue due to under invoicing by some
importers.
Edible oils dip
A fresh fall in prices of edible oils
characterised the trading on the oils and oilseeds market. Groundnut oil and imported RBD
palmolein eased further to Rs 510 and Rs 354 from the last closing levels of Rs 512 and Rs
3556 respectively due to lack of demand. In the non-edible section, castor oil commercial,
castorseed bold Madras and linseed oil closed unaltered at the previous close of Rs 325,
Rs 1,475 and Rs 460 respectively. In the futures section, castorseed September delivery
contract opened weak at Rs 1,505 but edged up on some low-level buying and closed
marginally higher at Rs 1,509 as against the previous close of Rs 1,510.
Edible oils dip as demand dries up
An easy trend continued for the third day
in a row on the oils and oilseeds market in Mumbai. Both edible and non-edible oils lost
ground on increased offerings from stockists amidst limited demand. In the edible section,
groundnut oil fell to Rs 512 per 10 kg from the last closing levels of Rs 515, showing a
total loss of Rs 23 since Monday. Imported RBD palmolein fell to Rs 356 from the previous
close of Rs 359 on poor demand supported by weak Malaysian advice.
Castorseeds look up
A modest increase in prices of castorseed
futures characterised the trading on the oils and oilseeds market in Mumbai today
following higher demand exporters. Castor oil and its seeds also recovered on fresh
demand, while groundnut oil consolidated its position at the previous levels. Groundnut
oil remained unchanged at Rs 5515, while imported RBD palmolein edged down by a rupee to
Rs 359 on weak Malaysian advice.
Soya price to rise
Tight supplies mean Chicago soybean
prices are expected to rise in the near to medium-term, Hamburg based newsletter Oil World
said. The recent decline in soybean futures in Chicago was overdone, it said, adding,
world production of soybeans, oil and meal will be insufficient to satisfy demand, so that
a more or less significant reduction of stocks must occur.
Groundnut oil slips again
Groundnut oil continued to rule lower for
the second day in a row on the oils and oilseeds market. The oil slipped further due to
higher arrivals from producing centres amidst normal demand. Imported palmolein also lost
support on weak advice from Malaysia. In the edible section, groundnut oil defined further
by Rs 10 to Rs 515 from the last close of Rs 525 thus showing a loss of Rs 23 in two days.
Edible oils slip
An easy trend was noticed on the oils and
oilseeds market in Mumbai today as both edible oils met buyers resistance at the
higher levels. In the edible section, groundnut oil eased to Rs 550 from Rs 555 on
increased arrivals from producing centres amidst poor demand. Imported RBD palmolein too
fell to Rs 368 from the last close of Rs 372.
Groundnut oil rises as demand picks up
A firm trend was noticed on the oils and
oilseeds market in Mumbai. Groundnut oil prices shot up by Rs 25 per 10 kg on fresh demand
amidst poor arrivals from producing centres. Other oils and their seeds also extended
gains on buying spree. Groundnut oil looked up by Rs 25 to Rs 540 from the previous close
of Rs 515. Imported RBD palmolein shot up by Rs 9 to Rs 369 in line with fresh rise in the
Malaysian prices.
Edible oil prices stabilise
Despite the drought situation in major
oilseeds producing states, prices of edible oils after showing a consistent increase have
now stabilized on higher side. An anticipated shortfall in domestic edible oil production
not resulting in skyrocketing of prices is being attributed to the slump in demand which
can balance any shortage in output.
Groundnut oil hots up
Groundnut remained in centrestage of
activity on the oils and oilseeds market today as it continued to attract heavy demand
amidst thin arrivals from producing centres and closed higher. Imported palmolein also
looked up on good demand, while castor oil and its seeds lost support on poor enquires
from soap manufacturers. In the edible section, Groundnut oil shot up further by Rs 8 to
Rs 480 from the previous close of 472. Imported RBD palmolein moved up to Rs 358 from the
last close of Rs 357.
Groundnut oil spurts on fresh demand, lower arrivals
A sharp increase in groundnut oil
characterised the trading on the oils and oilseeds market today due to lower than usual
arrivals from producing centres. The fresh demand from retailers also pushed up prices.
Groundnut oil shot up by Rs 7 to close at Rs 465 against the previous close of Rs 458.
Similarly, imported RBD palmolein rose to Rs 356 from the last close of Rs 354. Castor oil
commercial, castorseed bold Madras and linseed oil remained unaltered at their previous
close of Rs 301, Rs 1,355 and Rs 440 respectively due to restricted arrivals.
Edible oils dip
Sentiment tuned weak on the oils and
oilseeds market here as prices declined on poor offtake at improved levels and closed with
fresh losses. In the edible section, groundnut oil declined by Rs 5 to Rs 465 from
yesterday's close of Rs 470 and imported RBD palmolein fell to Rs 362 from Rs 364. In the
non-edible section, castor oil commercial dropped further by Rs 3 to Rs 302 from the last
close of Rs 305 on poor industrial offtake, while castorseed bold Madras fell to Rs 1,360
from Rs 1,375 on lack of export demand. Linseed oil however moved in a narrow range and
closed steady at Rs 450.
Edible oils mixed
A mixed trend was noticed on the oils and
oilseeds market. Imported palmolein improved further, while industrial oils lost ground on
lack of demand. Imported RBD palmolein rose to Rs 364 from Rs 359. Groundnut oil remained
unchanged at Rs 470.
Groundnut oil zooms
Groundnut oil shot up on the oils and
oilseeds market on good demand from retailers coupled with poor arrivals from producing
centres. Imported RBD palmolein also showed a firm trend on fresh demand. Industrial oils
also advanced further on consistent demand from soap manufacturers. In the edible section,
groundnut oil was sought Rs 11 higher at Rs 458 from Rs.447. Imported RBD palmolein rose
to Rs 359 from the previous close of Rs 355.
Oils skid afresh
In a restricted activity prices of edible
and industrial oils moved in a narrow range on the oil and oilseeds market today. However,
groundnut and castor oils were exception as both of them lost ground on paucity of demand.
In the edible section, groundnut oil eased further to Rs 445 from the last close of Rs
446, while imported RBD palmolein moved erratically and closed at the previous days levels
of Rs 356. In the non-edible section, castor oil commercial declined to Rs 296 from the
previous close of Rs 297 and castorseed bold Madras lost Rs 5 to close at Rs 1,330 as
against the last close of Rs 1,335.
Palm oil slips
An easy to steady trend was observed on
the oils and oilseeds market today. Imported palmolein lost ground on paucity of demand
and weak advice from Malaysia. Industrial oils, however held steady on small bout of
demand. In the edible section, imported RBD palmolein declined to Rs 360 from the last
close of Rs 363, while groundnut oil held steady at Rs 448.
Fresh demand props oils
A steep rise in edible oil prices
provided the main feature of trading on the oil and oilseeds market in Mumbai. Prices of
groundnut shot up further on heavy demand from stockists coupled with tight supply. Firm
Malaysian advice also pushed up prices in imported palmolein. Castor oil and its seeds
also improved on better enquiries. In the edible section, imported RBD palmolein rose to
Rs 363 from the previous close of Rs 358 as in Malaysia, the benchmark October contract
rose by 38 ringgit per metric tonne on Friday to close at 1,447 due to less bearish export
date and good physical buying from India. Groundnut oil looked up to Rs 448 from the last
weekend levels of Rs 445.
Edible oils dip
An easy trend continued to prevail on the
oils and oilseeds market as edible oils declined further due to lack of demand. In the
edible section, imported RBD palmolein eased further by Rs 7 to Rs 351 following weak
advice from Malaysia. Groundnut oil also declined by Rs 7 to Rs 445 on increased offerings
from producing centres. In the non-edible section, castor oil commercial eased to Rs 294
from the last close of Rs 295 and castorseed bold Madras lost Rs 5 to Rs 1,320. Linseed
oil lost Rs 5 to Rs 430 on thin demand from paint industries.
Edible oils slip
Edible oils, after ruling firm for the
last two sessions, lost support on the oils and oilseeds market due to buyers
resistance at the higher levels coupled with increased arrivals. In the edible section,
groundnut oil fell by Rs 5 to Rs 452 from the last closing levels of Rs 457. Imported RBD
palmolein also showed a fresh loss of Rs 4 at Rs 357 as against the previous close of Rs
361 due to weak Malaysian advice. In Kuala Lumpur, the October CPO contract dropped 12
ringgit to 1,423 ringgit. Castorseed futures also eased on lack of export enquiries, while
linseed oil improved on better advice from Kolkata.
Edible oils look up
Edible oils continued to rule firm on the
oils and oilseeds market today. Groundnut oil advanced further on persistent demand from
retailers. Poor arrivals from producing centres also affected the sentiment. Imported RBD
palmolein also improved further due to higher advice from Malaysia. Elsewhere, castor oil
commercial edged up further on sustained demand from soap industries. In the edible
section, groundnut oil shot up further by Rs 10 to Rs 448 from the last weekend levels of
Rs 438. Imported RBD palmolein also moved up further by Rs 9 to Rs 356 from
Saturdays closing levels of Rs 347.
Edible oils firm
A firm trend continued on the oils and
oilseeds market here as edible oils improved further. Industrial oils, on the other hand,
moved in a narrow range and closed steady. In the edible section, groundnut oil rose to Rs
435 from the overnight closing levels of Rs 432 on good demand from retailers. Imported
RBD palmolein also inched up further by Rs 5 to Rs 343 following better advice from
Malaysia.
Edible oils slip
A mixed trend was noticed on the oils and
oilseeds market. Castor oil commercial and its seeds advanced further on persistent
demand, while imported RBD palmolein eased marginally on weak demand. In the edible
section, imported RBDD palmolein fell to Rs 336 from the previous close of Rs 338 on thin
demand and weak advice from Malaysia. Groundnut oil moved in a narrow range and closed at
the previous closing level of Rs 432.
Groundnut oil up
Led by groundnut oil, prices of edible
and industrial oils rallied further for the second successive day on the oils and oilseeds
market on persistent buying interest. In the edible section, groundnut oil advanced
further by Rs 6 to Rs 432 from the previous close of Rs 426.
Sunflower oil prices likely to take a dip
Succour may be finally at hand for
consumers of sunflower and rapeseed oils brands, which are charging record prices to cope
with scarce supplies and zero imports. The government plans to shortly open this
years quota of three-lakh tonne oil imported at concessional duty. India offers this
annual quota to trading partners like Argentina, Brazil and USA as part of its commitment
under WTO. A global shortage of sunflower seed has ensured high oil prices worldwide and
simultaneous increase in local prices.
Groundnut oil gains
Groundnut oil firmed up on the oils and
oilseeds market on renewed demand from bulk consumers. Groundnut oil improved by Rs 6 to
Rs 426 from the weekend close of Rs 420, while imported RBD palmolein advanced by Rs 3 to
Rs 333 from the previous close of Rs 330.
Groundnut oil slips
A modest decline in groundnut oil and
imported palmolein characterised the trading on the oil and oilseeds market. The trading
pattern showed a mixed movement as edible oil prices drifted lower on paucity of demand.
Industrial oils on the other hand improved on better offtake. In the edible section,
groundnut oil eased further by Rs 4 to Rs 420 from the previous close of Rs 424 and
imported RBD palmolein fell to Rs 329 from the overnight closing levels of Rs 331.
Oils turn weak
A fresh fall in prices of edible and
industrial oils featured the trading on the oil and oilseeds market on thin demand amidst
normal supply. There was no trading in the futures market, according to sources. In the
edible section, imported RBD palmolein fell by Rs 4 to Rs 340, while groundnut oil
registered a fresh fall of Rs 2 at Rs 426 from the previous close of Rs 428. In the
non-edible section, linseed oil lost paint industries demand along with weak Kolkata
advice and declined to Rs 418 from the last close of Rs 420.
Oils extend gains
A firm to steady conditions prevailed on
the oil and oilseeds market today with both edible and industrial oils inched up on good
demand amidst restricted supply from producing centres. In the edible section, imported
RBD palmolein firmed up by Rs 3 to Rs 344 from the last close of Rs 341 on good buying
supported better advice from Malaysia. In Malaysia, September CPO contract rose to 1357
ringgit per tonne from 1355 ringgit. Groundnut oil, however showed a small gain at Rs 428
as against the previous close of Rs 427. In the non-edible section, castor oil improved by
a rupee to Rs 284 and castorseed bold Madras rose to Rs 1,270 from 1,265.
Edible oil imports jump 8% in June
The rush to import edible oil, which took
off in May, continues in June too. Considering the edible oils cargoes, which have already
reached various ports, edible oils imports in the current month will go up 7.8% to 5 lakh
tonnes over May. Traders said already about 3.5 lakh tonnes of edible oils had landed the
country in the first three weeks of the month.
Groundnut oil slips
A fresh fall in groundnut oil prices
characterised the trading on the oil and oilseeds market. The oil declined on lack of
demand from retailers. Imported RBD palmolein also lost support due to lower Malaysian
advices. In the edible section, groundnut oil dropped Rs 3 to Rs 432, while imported RBD
palmolein fell to Rs 349 from the last close of Rs 354.
Edible oils easy
An easy trend was observed on oil and
oilseeds market as both edible and industrial oils remained under pressure due to lack of
enquiries from retailers and wholesalers as well. Groundnut oil dropped a rupee to close
at Rs 434, while imported RBD palmolein weakened by Rs 8 to Rs 356 in the wake of a fall
in its prices in Malaysia. Soya oil refine and crude were traded lower at Rs 355 and Rs
333 respectively.
Soyoil imports
seen surging in July
India, the worlds largest edible
oil importer, is seen sharply increasing soyoil purchases from abroad in July versus a
year ago as the price gap between soyoil and palm oil has narrowed significantly, traders
said. The price of imported soyoil, including duties, is now just about Rs 1,000($20.41) a
tonne more than that of refined palm oil, while the gap was about Rs 3,000 a year ago. | Market Update (Oil Seeds) |