Weekly Edible Oil Report

➔ KLC (Palm Oil):

• KLC declined for the second consecutive week.

• Malaysia’s palm oil exports fell by 5-14%, while production increased by 6%.

• KLC expected to trade in the range of 4225-4600.

• Palm oil in the Indian market is ₹2-3/kg cheaper due to weak demand.

• Wait for the 1300 level for buying at Kandla Port.

➔ Soybean Oil:

• CBOT soybean oil closed higher, but weak biodiesel demand limited the gains.

• Stocks increased in the US, while Argentina’s stock remained low.

• Local market saw a decline of ₹2-3/kg due to weak demand.

• Expected to trade in the range of ₹1215-1220/10 kg at Kandla.

➔ Mustard Oil:

• Strong demand supported by tight supply of soybean and palm oil.

• Strong support at ₹1250 for Kachchi Ghani mustard oil in Jaipur.

• Possible long-term increase of ₹10-15/kg.