Ed­i­ble Oil Com­pa­nies Get Over DeMo Blues

The Economic Times - - Finance & Commodities - Su­tanuka.Ghosal@ times­group.com

Rise be­tween Nov and Dec

110%

Rise be­tween Dec and Jan­uary Rise be­tween Nov and Dec

207.5%

Rise be­tween Dec and Jan Kolkata: Cook­ing oil com­pa­nies are fast mak­ing up for the losses they in­curred dur­ing the post-de­mon­eti­sa­tion months of Novem­ber and De­cem­ber fol­low­ing a rise in sales and in­crease in cash sup­ply.

“Im­me­di­ately af­ter de­mon­eti­sa­tion, sales had fallen as cash sup­ply dried up. Sales took a hit in Novem­ber and De­cem­ber and cus­tomers were buy­ing small pack­ets to meet their re­quire­ment. In­sti­tu­tional sales suf­fered a lot. But from Jan­uary, we have seen sales grad­u­ally pick­ing up. A price drop in soya oil has helped in sales mov­ing up. Sun­flower prices are even cheaper than soya oil. Vol­umes are go­ing up,” said Ang­shu Mal­lick, chief op­er­at­ing of­fi­cer, Adani Wil­mar.

An­a­lysts said the price of re­fined soya oil on NCDEX is trend­ing down af­ter touch­ing higher lev­els in De­cem­ber 2016. “Soya oil prices have eased in the first month of 2017 and con­tinue to trade lower in Fe­bru­ary on re­ports that the coun­try will im- port lesser soya oil due to higher avail­abil­ity of soy­abean for crush­ing in the do­mes­tic mar­ket. More­over, the base im­ports prices/tar­iff val­ues were also low­ered by the govern­ment to be­low $900 per tonne in Jan­uary and Fe­bru­ary 2017,” said RK Sahu, re­search an­a­lyst (agri com­modi­ties), An­gel Broking. Cur­rently, soyaoil prices on CBOT is trad­ing at 8.8% lower in com­par­i­son to the prices in De­cem­ber. Price of soy­abean in the do­mes­tic mar­ket has been .₹ 3,0003,200 per quin­tal. The price of soy­abean on NCDEX is down by 7% from its higher lev­els of .₹ 3,200 per quin­tal in Oc­to­ber 2016. Cur­rently, it is trad­ing near the .₹ 3,000/quin­tal level. BV Me­hta, ex­ec­u­tive direc­tor, the Sol­vent Ex­trac­tors’ Association, said ed­i­ble oil com­pa­nies are wit­ness­ing im­proved de­mand from Jan­uary. Fall in soy­abean on NCDEX vis-a-vis Oct Fall in soyaoil on CBoT vis-a-vis Dec Rise in re­tail loan book of bank­ing sec­tor in Dec

20.6%

Fall in loans against shares in De­cem­ber (y-o-y)

19.4%

Rise in loans against shares in Dec 2015 Fall in loans against fixed de­posits in Dec 2016 (y-o-y)

6.4%

Rise in loans against fixed de­posits in Dec 2015

12.9%

Rise in unse­cured lend­ing in Dec 2016

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