18:16, 29.05.2009 — Новости
автор: OilWorld.Ru

DJ India Edible Oil Prices Down On Weak Demand, High Imports (ENG)


MUMBAI (Dow Jones)--Indian edible oil prices mostly fell during the week
ended Friday as demand remained lackluster, while imports are expected to rise
in the coming weeks.

  "Farmers are not very active in the market as sowing has started in some of
the areas," said a trader based in the main producing state of Madhya Pradesh.

  Vegetable oil imports this year are expected to rise to 8.5 million tons
compared with 6.3 million tons in 2007-08, industry officials said.

  However, failure of the monsoon to progress in the last couple of days has
limited the downside, traders said.

  "Earlier, rains were expected one week earlier. But now they expected on the
normal date," said Badruddin Khan of Angel Commodities, adding that this has
boosted sentiment in the market marginally.

  In India, soybean crop is sown in May-June and the harvest starts in October.

  India's annual monsoon rains are vital for the country's summer-sown crop as
around 60% of the crop is rain fed.

  Refined, bleached and deodorized palm olein prices fell to INR40,800 from
INR41,600/ton, while crude palm oil was at INR36,000/ton, down from INR36,500
last week.

  However, prices of refined soyoil was at INR45,500/ton, unchanged from last
week.

  

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