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Refined Cotton Oil Mixed On Slow Demand

15 Feb 2017 5:48 pm
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Mumbai (Commoditiescontrol) - Refined cotton oil traded mixed in most of the spot markets of the country on Wednesday due to slow demand.

A trader from Dhulia said, refined cotton oil seen under pressure as price gap with refined soy oil has narrowed and demand from blenders is
slowing.

Demand is shifting from cotton oil for palm oil for blending due to high profit margin, which is also seen as negative for the commodity.

Currently, the market is support by regular demand from consuming areas of cotton oil coupled with slow supply of Kapas, which will keep prices steady and avoid from big fall.

In todays trade, the price gap between refined cotton oil and soy oil has reduced to Rs 8/10kg in Dhulia market, against Rs 30 during early January. While, palm-soy oil price were Rs 42/10kg.

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 15-Feb-17 14-Feb-17 Change
*Nagpur 723 725 -2
*Ahmedabad 685 680 5
*Akola 718 720 -2
*Amravati 715 715 -
*Latur 716 716 -
*Dhulia 723 726 -3
*Hyderabad 670 670 -
*Jalna 715 720 -5
*Kadi 685 680 5
Ludhiana 720 725 -5
Mumbai 695 695 -
*Rajkot 687 685 2
*Hissar 752 752 -

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


       
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