Weekly Edible Oil Outlook: Mustard seen up on firm buys from millers

Informist, Wednesday, Apr 7, 2021


By Kaushal Verma


NEW DELHI – Futures contracts of all components of the edible oil basket are seen rising over the next five to six sessions.


* SOYBEAN contracts on the National Commodity and Derivatives Exchange may edge higher due to lower arrivals in physical markets and firm demand from crushing plants, analysts said.


* But, the gains would be restricted due to waning demand for soymeal from the livestock sector in domestic markets, traders said.


* REFINED SOYOIL contracts on NCDEX and CRUDE PALM OIL contracts on the Multi Commodity Exchange of India may tick higher because of lower imports, and as they track gains in the world markets, dealers said. 


* Higher palm oil exports from Malaysia, the second-largest producer, may lift prices on Bursa Malaysia Derivatives, analysts said. 


* Back home, the rise may be limited due to reports that the government is planning to cut edible oil import duty to cool off prices, a Mumbai-based analyst said.


* MUSTARD contracts on NCDEX are likely to tick higher due to strong demand from crushing plants, said analysts.


* The following table details the support and resistance levels for the upcoming five to six sessions, and prices of the contracts as of 1550 IST:



(in kg)


(in rupees)

(in rupees)

(in rupees)

Soybean May




Soyoil Apr









Mustard May














IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT


Edited by Patricia Hou


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