Login ID:
Password:
Partner Login
Contact Us : 07666977977

India RBD Palmolein Down On Improved Supply

14 Feb 2017 5:17 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

MUMBAI (Commoditiescontrol) - RBD palmolein traded down in most of the spot markets of the country on Tuesday due to improving supply in the domestic market.

A trader from Kolkata said "Malaysian market was weak during first half, however it recovered later, but early weakness has weighed on market sentiments and sent negative signal to the spot markets."

Malaysian palm oil future closed 0.46 percent higher tracking recovery in U.S futures market.

Palm oil prices are under pressure on low demand tracking volatility in futures market coupled with outlook of rising supply of edible oil in local spot market.

Palm oil (CPO+RBD) stocks at various ports of the country rose by 30 percent as on February 06 against last week.

In addition to it, stock of other edible oil at the ports have also increased gradually easing concern about edible oil supply.

According to traders market participants are not ready to make big commitments as avialability of edible oil seen has improved.

At local bourse, crude palm oil most active February contract on Multi Commodity Exchange (MCX) was lower 0.56 percent at Rs 567.8/10kg against Rs 571 on previouis close, while forward March contract was down 0.39 percent at Rs 558.9.

Following are refined, bleached and deodorized (RBD) palmolein prices (Rs/10kg) in various markets of India at 1330 PM (IST).

Palmolein 14-Feb-17 13-Feb-17 Change
Mumbai 620 626 -6
Kakinada 620 622 -2
Chennai 625 630 -5
Manglore 625 625 -
Kandla 620 630 -10
Kolkata 626 630 -4
Ahmedabad 618 622 -4
Nellore 615 618 -3

(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 USDA Minnesota/North Dakota Daily Oilseed Prices - F...
DJ MGEX Grains Close - Feb 24
DJ CBOT Grains/Oilseeds Settlements - Feb 24
DJ CBOT Soyoil/Soymeal Close - Feb 24
DJ ICE Canada Review: Canola Ends Narrowly Mixed
more
Top 5 News
DJ Commodities Corner: Platinum's 15 Minutes Are U...
All Major Pulses Mixed In Delhi
All Pulses Closed Mostly Flat At Mumbai
Firm Tone Witnesses In Select Pulses At Kolkata
India Daily Cotton Arrivals Decreases 6% On Saturday
Top 5 Special Reports
Sluggish Trend Continues In Spot Mustardmeal
Spot Cotton Oil Cake Likely To Trade Higher Next Week
Weekly: Cotton Bullish Supported By Global Market Cues
Cotton Prices Are Poised To Rise In The Short Run Follo...
India Soymeal Likely To Trade Rangebound Next Week
Copyright © CC Commodity Info Services LLP. All rights reserved.