Login ID:
Password:
Partner Login
Contact Us : 7066511911

Spot Refined Soy Oil Steady On Sluggish Demand, Mixed Cues

4 Jan 2017 4:34 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

MUMBAI (Commoditiescontrol) – Refined soy oil traded steady in most of the markets of the country on Wednesday due to sluggish demand.

A trader from Indore said, soy oil ruled steady to sideways in todays trade as direction was not clear from global market.

U.S soy oil futures rose 0.23 percent during Asian hours after loss of 0.43 percent during previous session. However strong rupee pressured domestic edible oil.

Market participants were silent today on reports of favorable weather condition in South America, which may raise prospects for big supply of soy oil and pressure prices.

On demand side, according to trader, soy oil may gain market share in coming days ahead of festive season during mid-Jan to mid-March, due to low price gap with other edible oil in the complex.

Currently price gap between soy and sunflower oil is $25 per tonnes in FoB terms while price gap with rival palm oil has also narrowed to $48.

While, mustard oil continued to trade Rs 11/Kg higher than soy oil.

Prices may also get support as stock at various ports of the country which totalled 1.30 lakh tonnes as on December 26, down from 1.45 lakh tonnes on December 19.

The stocks are not only down week on week basis, but the same is down against 1.63 lakh tonnes during same period last year, the trader concluded.

Refined soy oil most active January contract on NCDEX was trading soft at Rs 726.2/10kg against previous close of Rs 726.6 while forward February contract was higher 0.15 percent at Rs 715 against Rs 713.9 on previous session.

Following are soy oil prices (Rs/10kg) in various markets of India at 1:30 pm(IST).

Soy oil 4-Jan-17 3-Jan-17 Change
Mumbai 715 710 5
Indore 737 735 2
*Akola 755 757 -2
*Alwar 750 750 -
*Amravati 756 758 -2
*Bharatpur 750 750 -
*Kota 745 745 -
*Bundi 745 745 -
Kolkata 720 720 -
*Jalna 765 -
Kandla 725 725 -
*Dhulia 757 761 -4
*Latur 750 750 -
*Nagpur 760 762 -2
*Nanded 750 750 -
Rajkot 725 -
*Solapur 750 750 -

(By Commoditiescontrol Bureau; +91-22-40015516)


       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest Market Commentary
DJ ICE Canola Rises With Short Covering
DJ U.S. Grain: Soybean Midday Gulf Barge Basis - Apr 19...
DJ USDA Portland Cash Grain Prices-AM - Apr 19
DJ ICE Canola Pushed Higher By Specs
DJ ICE Futures Canada Grains Volume And Open Interest
more
Top 5 News
DJ ICE Canola Rises With Short Covering
DJ Global Commodities Roundup: Market Talk
DJ Nymex/Comex Globex Metals Futures Hourly Price Updat...
DJ Oil Rallies to More Than Three-Year High as Supply T...
DJ Daily Grain Receipts And Shipments - Apr 19
Top 5 Special Reports
Technical: Guarseed Bikaner: Support Likely At Current ...
Technical: Cotton Seed Oil Cake Kadi - Lower Level To B...
Technical: Cotton Seed Kadi: Expect Lower Range To Be T...
Technical: Masoor Canada Crimson: Accumulate At Lower R...
Technical: Black Pepper Kochi: Further Downside Moment...
Copyright © CC Commodity Info Services LLP. All rights reserved.