Vegetable oil prices move up
MUMBAI (CommodityOnline) -- Lower domestic oilseeds production in kharif season, slowing imports and high international prices have pushed up the prices of vegetable oils in India.
Industry leaders said prices of various oils would strengthen in the coming days as the domestic market moves away from the last harvest. The next harvest is over two months away.
Another reason for the surge in prices is the strong rise in palm oil. Crude palm oil touched an 8-year high on December 26, threatening to breach the psychological level of Malaysian ringgit 2,000 a tonne.
NCDEX WHEATDELHIJUN12 20 June 2012
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