Login ID:
Password:
Partner Login
Contact Us : 07666977977

India RBD Palmolein Steady/Weak On Sluggish Demand

16 Feb 2017 3:31 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

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

A trader from Kolkata said, sentiment was weak since early trade as benchmark Malaysian was down on renewed concern about demand at higher level coupled with reports of rising production.

Malaysian palm oil exports were almost flat during February 1-15 while South Peninsula Palm Oil Millers Association (SPPOMA) have estimated production up 14 percent during same period.

In domestic market, palm oil prices are under pressure on 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 1.2 percent at Rs 564.2/10kg against Rs 571.1 on previouis close, while forward March contract was down 1.17 percent at Rs 554.9

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

Palmolein 16-Feb-17 15-Feb-17 Change
Mumbai 615 616 -1
Kakinada 615 618 -3
Chennai 620 625 -5
Manglore 625 625 -
Rajkot 615 615 -
Kandla 620 620 -
Kolkata 625 623 2
Ahmedabad 618 618 -
Nellore 612 615 -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 - J...
DJ MGEX Grains Close - Jul 21
DJ CBOT Grains/Oilseeds Settlements - Jul 21
DJ CBOT Soyoil/Soymeal Close - Jul 21
DJ ICE Canada Review: Canola Softens as Showers Forecas...
more
Top 5 News
*DJ Regis Resources Price Target Raised 6.7% to A$3.20/...
DJ Lihir Offsets Fall In Newcrest Gold Production >N...
*DJ Iluka: Improved Mineral Sales Market Conditions Evi...
*DJ Iluka 2Q Mineral Sands Production 344,300 Tons
*DJ Iluka 1H Zircon, Rutile, Synthetic Rutile Output Vo...
Top 5 Special Reports
Weekly: Pulses Extend Losses On Fall In Demand/Volume
Weekly: Spot Red Chilli Gains Most In Spices Complex; C...
Technical: Cotton Seed Oil Cake - Expect Support At Low...
Spot RBD Palmolein To Trade Steady To Up Next Week
Cotton Weekly: On-going Rains Weigh on Indian Cotton Ma...
Copyright © CC Commodity Info Services LLP. All rights reserved.