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Refined Cotton Oil Down With Other Edible Oil

14 Feb 2017 5:58 pm
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Mumbai (Commoditiescontrol) - Refined cotton oil extended weakness in most of the spot markets of the country on Tuesday tracking other oil market.

A trader from Dhulia said, oil complex traded down in tracking weak sentiment globally coupled with outlook of rising supply in local spot market.

Refined cotton oil was also not spared as cotton oil was mostly used for blending with soy oil, but weakness in soy oil the price gap has narrowed and so the demand for blending.

Currently, the price gap between the two has narrowed to Rs 6/10kg in Dhulia market, against Rs 30 during early January.

Further to it, demand of cotton oil is gradually shifting to rival palm oil for blending as temperature has starting rising and good profit margin in blending, which is now Rs 43/10kg.

The trader concluded by saying, downside for cotton oil seen limited due to restricted farmer selling of Kapas, however, weak sentiment in the complex will limit upside.

Cotton Refine Oil Rates At Various Markets At 1330 PM (IST)

Cotton Seed Ref 14-Feb-17 13-Feb-17 Change
*Nagpur 725 735 -10
*Ahmedabad 680 690 -10
*Akola 720 730 -10
*Amravati 715 715 -
*Latur 716 719 -3
*Dhulia 726 727 -1
*Hyderabad 670 670 -
*Jalna 720 720 -
*Kadi 680 690 -10
Ludhiana 725 -
Mumbai 695 695 -
*Rajkot 685 690 -5
*Hissar 752 755 -3

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


       
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