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Refined Cotton Oil Down In Spot Tracking Other Edible Oils

16 Feb 2017 5:30 pm
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Mumbai (Commoditiescontrol) - Refined cotton oil dropped in most major markets across the country on Thursday tracking other edible oils.

A trader from Khamgaon said, refined cotton oil was under pressure due to weakness in other edible oils which has collapsed nearly 3-4 percent this week.

Demand for cotton oil from blenders has also reduced as price gap with refined soy oil has narrowed, as the same has fallen significantly in the recent times.

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.

In todays trade, the price gap between refined cotton oil and soy oil has reduced to Rs 9/10kg in Dhulia market, against Rs 30 during early January. While, palm-soy oil price were Rs 40/10kg.

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 16-Feb-17 15-Feb-17 Change
*Nagpur 721 723 -2
*Ahmedabad 685 685 -
*Akola 716 718 -2
*Amravati 712 715 -3
*Latur 710 716 -6
*Dhulia 721 723 -2
*Jalna 715 715 -
*Kadi 685 685 -
Ludhiana 722 720 2
Mumbai 695 695 -
*Rajkot 687 687 -
*Hissar 750 752 -2

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


       
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