Login ID:
Password:
Partner Login
Contact Us : 7066511911

Vegoils Commentary: NCDEX Ref Soy oil stayed flat today, global prices stable

25 Nov 2020 9:13 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

Mumbai (Commodities Control) – NCDEX Ref Soy oil futures today stayed flat to close 1.3 Rs/10 Kg up at 1054 Rs/10 KG for active Dec 20 contract.


Prices revive today after falling heavily in yesterday’s session.


Global soybean oil prices remained stable, with CBOT soybean oil Jan 21 futures trading 0.17 ct/lb up at 37.88 ct/lb at time of reporting.
Prices received support from positive palm oil and crude oil prices.


Demand scenario is not encouraging for short run as multiple lock down has been announced across the country due to increasing COVID-19 cases.

It is highly discouraging for hospitality and catering sector which were looking for revival during the wedding season.


Solvent extraction association today appealed to govt not to remove import duty on veg oils as it will be hugely discouraging for local refiners and oilseed farmers.


NCDEX Ref Soy futures is anticipated to stay above 1050 Rs/10 Kg and trade towards 1070 Rs/10 KG in near term.


(Commodities Control Bureau)


       
  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
Turmeric: 'Gathha' Rises, 'Finger' Pares Gain in Major ...
Spot Jeera Collapses Rs 15/20Kgs in Unjha, Futures Sett...
Red Chilli Prices Firm as Crop Arrivals Pick Pace; Teja...
Coriander: New Crop Prices Crumble under Arrivals' Pres...
Turmeric: Finger Variety Rises in Nizamabad, Erode; Fut...
more
Top 5 News
Bullish trend continues in guar complex as Biden factor...
Oilseed Commentary: Soybean traded up on bargain buy at...
Pulses commentary: Chana futures take support at lower ...
BMD CPO close: Palm oil hits with supply worries; flood...
Uptrend remains intact in Spot Mustard Seed prices, Oil...
Top 5 Special Reports
USD/INR (Jan 21) Weak Price Trend / Next Target at 7...
USD/INR (Jan 21) Weak Price Trend / Next Target at 7...
Robust Chinese Demand to Keep Cotton Prices Firm, ZCE C...
USD/INR (Jan 21) Weak Price Trend / Next Target at 7...
Weekly: Tur, White Pea Gain Most This Week; Chana Weake...
Copyright © CC Commodity Info Services LLP. All rights reserved.