Posted by & filed under Sunflower Oil Market Report, Sunflower Oil Prices.

India and duty hike is the most trending twitter facebook and Email trend from last Friday. Thanks to Modi improving rating, Thanks to Miss Chillar winning Miss World and also that Indian government has increased duty on all veg oils and thus we see strong price reaction in domestic markets. Sunflower oil is again preferred with 5% less duty in comparison to bean oil. I am sure everyone in India already has full duty structure but for our overseas readers I am giving it here again.

 

Increase in Custom Duty

Cpo 15.45 to 30.90%

INR 7456.14 to 14912.28 ( plus 7456.14=USD 115)

 

RBD 25.75% to 41.2%

13074.67 to 20919.46

(plus 7844.79= USD 120)

 

Soyabean 18.025 to 30.90%.    10285.86 to 17832.90

Plus 7547.04= USD 116

 

Sunflower

12.875 to 25.75%

6900 to 13800

Plus 6900= USD 106.

 

Domestic exchanges in India are limit up gaining 4% vs previous close in veg oils . MDEX reacting 3% down making market already considering 7% change as against 15% . There is further upward potential in the Indian market but we will soon be seeing selling as traders with long duty paid stocks would jump to cash in. Ukraine sunflower oil offers are slow at 760 for JFM with no buyers at the moment. Buyers are hiding behind Indian duty hike and we expect them to come out during second half today.

 

  • Palm oil Midday Market Close
  • Bmd: 2662 (-52)
  • H2683/L2660
  • Vol: 22,121

 

  • oln:
  • Dec 660 vs 655
  • Jan 665 vs 657.5
  • Jfm 668 vs 665, trd 670-666
  • Amj 671.5 vs 667.5 trd 670
  • Jas 656.5 vs 650
  • Ond 651.5

 

  • rbdpo: -5

 

  • strn: Dec 685  (deld)
  • pfad: Dec 630 (deld)

 

  • Local cpo: Nov 2650

 

  • Indon cpo:
  • Dec 667.5
  • Jan 672.5

 

  • laurics:
  • cpko: Nov 342
  • rbdpko: Nov/Dec 1510
  • rbdpkoln: Nov/Dec 1320
  • rbdpks: Nov/Dec 1780

 

  • Rm 4.1565
  • Crude Oil : Dec 56.63
  • Ace : -27 -27 -29
  • Dce: Jan 5430 (-60) May 5524 (-74)
  • 6 ports Europe sfo opens dec 790 jfm 800 amj 815 jas 827.5 ond 825 ….. with lower palm awaiting first buyers
  • Black Sea sunflower oil JFM 760 vs — , AMJ 770 vs —
  • Russian sunflower oil offered at USD 755 vs —
  • Spain offered for Jan 800 vs —
  • Italy offered at USD 795 vs –
  • CIF India J810 vs –, FM 813 vs –, AMJ 820 vs – and JAS 830 vs –
  • Turkey offered at USD 790 vs —
  • Currency INR 65.02, Euro 1.18 , RM 4.14 , and rub 59.18

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