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Bearish Trend Continues In Spot RBD Palmolein

16 Apr 2018 5:34 pm
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MUMBAI (Commoditiescontrol) - RBD Palmolein edged lower by Rs 3 to trade at Rs 715/10kg at the key kandla market on Monday due to poor demand and weak cues from Malaysian Palm Oil Futures.

The demand of commodity has declined in retail market so wholesale buyers are staying away from bulk purchases. Also the temperatures are gradually rising due to onset of summer season so consumption of edible oils may decline in coming days as people don’t like to eat fried foods.

However sharp fall is not expected as the import of RBD palmolein is in disparity.

Malaysian palm oil futures closed lower today weighed down by worries of over-production in coming months. Production is expected to be higher in April due to increased harvest area. Further slowing export demand has also weighed on palm oil prices. Malaysia’s palm oil exports for 1-15 April rose 5.7% according to SGS compared to 32.6% between April 1-10.

The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange settled down by MYR 31 at MYR 2,372 a tonne at the end of the trading day.

Following are RBD Palmolein Prices of various markets in Rs 10/kg.


Mandi

Sub_Var1

Price

Prev_Price

Specifications

Akola

 

740

742

Plus GST

Chennai

 

718

718

Plus GST

Dhulia

 

740

745

Plus GST

Gandhidham

 

708

715

Plus GST

Hyderabad

 

760

761

Plus GST

Kakinada

 

705

710

Plus GST

Kandla

In Rs

715

718

Plus GST

Kandla

CIF($):April

670

665

CIF

Kolkata

 

713

713

Plus GST

Latur

 

773

773

Plus GST

Malaysia

April

645

650

FOB

Malaysia

May/Jun

645

650

FOB

Malaysia

July/Aug/Sep

642

647.5

FOB

Mumbai

 

718

718

Plus GST

Nanded

 

778

778

Plus GST

Nellore

 

705

706

Plus GST

Rajkot

 

710

710

Plus GST

Solapur

 

773

773

Plus GST


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

       
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