20:16, 07.08.2009 — Новости
автор: OilWorld.Ru

DJ India Edible Oil Prices Rise On Festive Demand, Weak Monsoon (ENG)


MUMBAI (Dow Jones)--India's edible oil prices rose during the week ended
Friday on firm demand ahead of the festive season and fears of an impact on
output due to poor monsoon rains.

  "We are witnessing increased off-take due to festivals and the demand is
likely to remain firm for next 2-3 months," a trader based in the central
Indian city of Indore said.

  The poor monsoon rains, which are likely to affect the soybean crops in major
growing regions, also helped prices move higher, he said.

  The annual monsoon rains, crucial to summer-sown crops - about 60% of
farmland is rain-fed - were 25% below normal between June 1 and Aug. 5.

  Rainfall in the country for the week ended Aug. 5 was 64% below normal, worse
even than the 18% below the 50-year average measured the previous week.

  Firm prices in international market also supported local prices, said another
trader.

  Refined, bleached and deodorized palm olein prices rose to INR38,800/ton from
INR37,200/ton last week, while refined soyoil increased to INR45,200/ton from
INR44,000/ton.

  Crude palm oil rose to INR34,200/ton compared with INR33,000/ton last week.


  

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