Edible Oil Companies Get Over DeMo Blues
Rise between Nov and Dec
Rise between Dec and January Rise between Nov and Dec
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
Fall in loans against shares in December (y-o-y)
Rise in loans against shares in Dec 2015 Fall in loans against fixed deposits in Dec 2016 (y-o-y)
Rise in loans against fixed deposits in Dec 2015
Rise in unsecured lending in Dec 2016