Edible Oil Market Highlights

Advisory Bazaar Info Services

🔹 Market Status

* On account of Ganesh Chaturthi, NCDEX, MCX, and most physical mandis will remain closed today.

🔹 International Impact

* The U.S. has imposed a 50% import duty on Indian goods, effective today.

* Higher duties will increase trade costs for agricultural commodities such as rice, cotton, textiles, spices, dry fruits, peas, lentils, kabuli chana, and soybean oil.

* India has identified 50 countries, including China, Latin America, and West Asia, as potential markets to boost exports.

🔹 Palm Oil (KLC)

* Opened higher today and remained firm in mid-day trade.

* However, demand weakened at higher levels, while better production led to sluggish activity.

* Malaysia has proposed to exempt crude palm kernel oil and palm kernel olein oil from SST.

🔹 Soybean Oil (CBOT)

* Recorded a decline last night.

* Reason: Concerns over demand due to EPA’s refinery biofuel waiver.

🔹 Rice Bran Oil (RBO)

* After a rebound from lower levels, pressure emerged at the top.

* Weak demand, along with stockists offloading old inventory.

* Traders are advised not to buy in haste; wait for a price correction of ₹2–3/kg before fresh purchases.

* Demand for soybean DOC for blending in mustard oil has also put pressure on RBO.

🔹 Rapeseed Oil

* India has imported rapeseed oil for the first time in five years.

* The move comes as domestic prices touched a three-year high.

* India mainly imports:

– Palm oil from Indonesia & Malaysia

– Soybean oil from Argentina & Brazil

– Sunflower oil from Russia & Ukraine