17:16, 13.03.2009 — Новости
автор: OilWorld.Ru

DJ India Edible Oil Prices Up On Weak Supplies, Global Cues (ENG)


MUMBAI (Dow Jones)--Indian edible oil prices rose in the week ended Friday on
dwindling supplies of soybean in the local market and tracking firm overseas
markets.

  India imports nearly half of its vegetable oil requirements, thus global
markets influence domestic prices.

  "Soybean supplies have come down to about 50,000 bags from 70,000 bags last
week due to the end of harvesting season," said Ajay Sahani, a trader based in
the major producer state of Madhya Pradesh.

  However, the outlook remains bearish on higher imports and rising supplies of
rapeseed in the local market.

  The country's vegetable oil imports are likely to hit a record high of 7.15
million metric tons in the marketing year to October 2009, London-based
vegetable oil analyst Dorab Mistry said Thursday.

  He said India's vegetable oil production is likely to fall this year to 6.6
million tons from 7.1 million tons.

  Prices of refined soyoil rose to INR44,500/ton from last week's price of
INR43,500/ton.

  Crude palm oil was at INR31,000/ton, up from INR30,000/ton, while refined,
bleached and deodorized palm olein prices rose to INR36,000 from INR34,800/ton
a week ago

  

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