Edible Oil Market Update

Advisory Bazaar Info Services

* The MPOB monthly report is due today, while the USDA Supply & Demand Report will be released tomorrow.

* Market focus will remain on the extent of the expected increase in Malaysian palm oil inventories.

* According to a Reuters survey, Malaysian palm oil stocks are estimated to have increased by 4.9%.

* Malaysian palm oil export data for August 1–10 will provide further clarity on the demand outlook.

* Edible oil prices are expected to remain steady to slightly weak today.

* Soy oil is trading around the ₹1,420 support level, with buying likely to emerge on declines.

* Soy oil currently carries a ₹4–5/kg spread at ports.

* Palm oil may decline by around ₹5–10 per 10 kg, although a sharp fall is not expected.

* Mustard oil is likely to remain stable in the near term.

* The current downside risk in mustard oil is limited to around ₹1–2/kg.

* Upside in mustard oil is likely to remain capped around ₹1,700.