Boiling News & Veg Oils ,crude

Spot Soya oil prices - Aug 25
25 Aug 2008 12:49 pm

Mumbai - Following are soy oil prices of various markets in India at morning session. Prices are in Rs. per 10kg, Excluding Value added Tax (VAT).*indicate all paid rates.

Soy oil
25/08/08
23/08/08


Min
Max
min
Max

Mumbai
588
589
588
589

Indore
586
587
587
588

*Akola
622
623
620
621

Alwar
585
587
587
588

*Amravati
620
621
618
619

Bharatpur
585
587
587
588

Bundi
580
581
582
583

Chennai
615
616
620
621

*Kolkata
650
651
650
651

Hyderabad
610
611
610
611

*Jalana
615
616
620
621

Kakinada
590
591
590
591

Kandla
590
591
590
591

*Kanpur
645
646
650
651

*Latur
610
611
615
616

Manglore
592
593
590
591

*Nagpur
622
635
625
635

*Nandad
608
609
612
613

*Solapur
612
613
615
616

Diesel to cost Rs 57 per litre for industrial users

New Delhi, Aug 25: State-run oil firms have proposed a Rs 57 per litre price for diesel they sell to industrial users as against Rs 34.80 a litre currently, as use of the fuel in sectors like power generation had seen an unprecedented growth.

Three oil companies have submitted a concept paper to the Petroleum Ministry for differential pricing of diesel for direct consumers like Railways and power producers who they want to charge market price and limit subsidised sales to transport and agriculture sectors, official sources said.

Industrial units like power generators find subsidised diesel cheaper than freely priced fuel oil and naphtha, pushing demand that has forced refiners import the fuel to meet the requirement.

Last week, an industry-brainstorming meeting with Oil Minister Murli Deora was informed that diesel demand in April-July had grown by 18 percent, with bulk of the growth coming from industrial users like power plants.

Sources said the power sector had seen a whopping 152 per cent rise in demand in the first quarter to 53,000 tons, while fisheries and marine sector had seen a near-40 percent growth.

Differential pricing of diesel would reduce the revenue loss by Rs 27,202 crore in 2008-09.

Indian Oil Corp, Bharat Petroleum and Hindustan Petroleum currently lose Rs 16.22 per litre on diesel sales. Half of the projected Rs 184,801 crore revenue loss on sale of petrol, diesel, LPG and kerosene in fiscal 2009 is because of diesel.

Sources said, the Petroleum Ministry was examining the proposal and it was being deliberated if Cabinet approval would be required for implementing differential pricing scheme.

"During the first four months, diesel demand has grown at 18 percent," IOC Chairman Sarthak Behuria had said last week.

This unprecedented demand growth has seen domestic output fall short of the requirement and a total of 4.14 million tons of diesel may be required to be imported in 2008-09. Of this 1.267 million tons has been imported in April-July.

Behuria said, while transport and agriculture demand for diesel had grown by 10-12 percent, consumption by power producers and other industries had risen 30 percent.

Mumbai edible oil prices - Aug 28
28 Aug 2008 10:15 am


Mumbai - Following are the prices of various edible oils at the Mumbai market as on 10.10 a.m. (IST). All prices are in Rs. per 10kg.Excluding Value added Tax (VAT) Variety/Day
27/08/08 28/08/08 Change
Sunflower oil Exp
585 585 -
oil Ref
640 640 -
Groundnut oil
720 710 -10
RBD Palmolein
457 454 -3
Cottonseed oil ref
590 590 -
Mustard oil
644 642 -2
Ref Soy oil
580 578 -2

Mustard Seed NCDEX Sep - 28/08/2008
27 Aug 2008 5:50 pm


The trend is down

The market could not violate the support level of Rs 585 and closed a bit higher. Closing bellow Rs 585 the market is expected to test lower range of Rs 575

MACD histogram remains in the negative zone and sustaining this zone one can expect the market to move down

Enter fresh short below Rs 585 with stop loss above 593.

INTRA-DAY LEVELS

Last Close
Daily Closing Reversal

Point
Level 1
Level 2
Center Point
Level 3
Level 4

599.0
604.0
588.4
593.7
596.35
601.65
604.3

Spot Groundnut oil prices - Aug 28
28 Aug 2008 12:49 pm

Mumbai - Following are groundnut oil prices of various markets in India at morning session. All prices are in Rs. per 10kg, Excluding Value added Tax (VAT).

Groundnut oil
28/08/08
27/08/08


Min
Max
Min
Max

Mumbai
710
711
720
721

Rajkot
680
700
680
700

Hyderabad
680
681
680
681

Ahemdabad
680
681
680
690

Chennai
645
646
650
651

Kurnool
655
656
650
651

Narsarropeth
640
641
645
646

Prodattour
645
646
640
641

Bikaner
580
581
580
581

Spot Soya oil prices - Aug 28
28 Aug 2008 12:53 pm



Mumbai - Following are soy oil prices of various markets in India at morning session. Prices are in Rs. per 10kg, Excluding Value added Tax (VAT).*indicate all paid rates. Soy oil 28/08/08 27/08/08
Min Max Min Max
Mumbai 578 579 580 581
Indore 578 579 580 581
*Akola 615 616 615 616
Alwar 580 585 584 585
*Amravati 610 611 611 612
Bharatpur 580 585 584 585
Bundi 575 577 578 580
Chennai 620 621 620 621
*Kolkata 650 651 650 651
Hyderabad 600 601 600 601
*Jalana 605 606 610 611
Kakinada 585 586 585 586
Kandla 590 591 595 596
*Kanpur 630 631 630 631
*Latur 605 608 607 608
*Nagpur 622 635 618 630
*Nandad 600 606 605 606
Rajkot 576 578 578 579
*Solapur 605 606 607 608

Mumbai edible oil prices - Aug 29
29 Aug 2008 10:15 am

Mumbai - Following are the prices of various edible oils at the Mumbai market as on 10.10 a.m. (IST). All prices are in Rs. per 10kg.Excluding Value added Tax (VAT) Variety/Day
28/08/08 29/08/08 Change
Sunflower oil Exp
585 585 -
oil Ref
640 640 -
Groundnut oil
710 710 -
RBD Palmolein
454 454 -
Cottonseed oil ref
590 590 -
Mustard oil
642 642 -
Ref Soy oil
578 585 +7

Spot Soya oil prices - Aug 28
28 Aug 2008 12:53 pm

Mumbai - Following are soy oil prices of various markets in India at morning session. Prices are in Rs. per 10kg, Excluding Value added Tax (VAT).*indicate all paid rates. Soy oil 28/08/08 27/08/08
Min Max Min Max
Mumbai 578 579 580 581
Indore 578 579 580 581
*Akola 615 616 615 616
Alwar 580 585 584 585
*Amravati 610 611 611 612
Bharatpur 580 585 584 585
Bundi 575 577 578 580
Chennai 620 621 620 621
*Kolkata 650 651 650 651
Hyderabad 600 601 600 601
*Jalana 605 606 610 611
Kakinada 585 586 585 586
Kandla 590 591 595 596
*Kanpur 630 631 630 631
*Latur 605 608 607 608
*Nagpur 622 635 618 630
*Nandad 600 606 605 606
Rajkot 576 578 578 579
*Solapur 605 606 607 608

Product: FOB Malaysian ports- Aug 29
29 Aug 2008 10:15 am

Mumbai - Following rates were quoted for RBD Palmolein in India on FOB Malaysian port conditions.

Month
US $/ Per tonnes

Sep
860

Oct
855

Nov
855

India's import duty ceiling likely at 37.5pc for Asean CPO
29 Aug 2008 3:24 pm

Kuala Lumpur - India may not be able to raise the import duty on crude palm oil purchased from Malaysia and Indonesia above 37.5 per cent after a free trade agreement with Association of Southeast Asian Nations comes into force.

"The tariff proposals on the table are 37.5 per cent for CPO and 45 per cent for refined palm oil," a Malaysian government official said, adding it wasn't confirmed no changes were made before the FTA was formally endorsed by the two sides in Singapore.

Malaysia and Indonesia are the major palm oil producing countries among the Asean members.

India and Asean finalized the agreement Thursday under which tariff cuts on several goods will start from January 2009.

The agreement is expected to be signed and ratified by the end of this year.

It took the two sides six years to finalize the agreement and India's import tariff level on palm oils was one of the contentious issues.

India wanted a higher permissible limit for import duty on palm oils to protect its oilseed growers from a surge in cheap imports. Malaysia and Indonesia favored a lower tariff, as palm oil is their major export item and India is the world's second-largest importer by volume after China.

However, during the course of negotiations, India unilaterally brought down the import duty on crude palm oil in phases, to zero from 80 per cent in the last two years, to keep a check on inflation. The import duty on refined palm oil has been brought down to 7.5 per cent from 90 per cent.

Rules of the World Trade Organization allow member countries to levy an import duty on palm oils up to a maximum limit of 300 per cent.

However, the upper limit, or bound rate, for import duty on soybean oil under WTO rules is 45 per cent.

After the India-Asean FTA is implemented, the leeway India has had in altering import duty on palm oils, depending on international prices, will get curtailed.

India imports most of its palm oil requirements from Indonesia in crude form. Purchases from Malaysia are also on the rise after India's government-run companies started importing higher volumes of refined palm oil since mid-April for a subsidized local program for lower-income households.

According to latest industry estimates, India imported 3.2 million metric tons of edible palm oil during the November-July period in 2007-08, up from 2.23 million tons a year earlier.

In addition, it also imported more than 450,000 tons of non-edible palm oils during the November-July period.