Edible oil trends

Category:-Veg oil | 04-Dec-2023 10:37 AM

Due to weakness in KLC, there is a possibility of correction in palm oil prices in the domestic markets today. KLC closed down 0.5% last week, but registered a gain of almost 5% in the month of November, CBOT soy oil gained 2% last week, but the domestic market declined, January prices in Argentina and Brazil Deals are being quoted at 485-500$/tonne, Indian government increased import duty on CPO and RBD olein, but no further strict measures will be taken to control the prices, while Indian Soymeal prices are around 548-560$. /ton, Kandla soya oil is still above its support of 910, hence purchase only as per demand, mustard prices softened after a slight rise in the beginning of last week, the reason for the increase in difference with other oils. Demand for mustard oil is weak at upper levels, sufficient stock of mustard. Seeing the softening of price of edible oils and progress of sowing, there is no expectation of major recession in mustard, the same Jaipur mustard is close to 6050, hence do not carry large stocks, Daily Should focus on trading!


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