Sunflower Oil Seems at Weak Footing, But Seasonally performs in 2H

Mumbai (Commodities Control) –Sunflower oil is seen at weak footing these days after prices of soybean and palm oils witnessed a sharp correction globally.


However, second half of a calendar year normally remains better for sunflower oil. Historically, it gains during July-December except October. Therefore, next three months are seasonally seen good for sunflower oil.

Sunflower oil is expected to see more weakness in near term but it presently a strong support at Rs 1,650 per 10kg as the technical chart shows. In case of further fall in prices, it will have next support at Rs 1,400/10kg.