Financial Daily from THE HINDU group of publications
Monday, Sep 16, 2002
Financial Daily from THE HINDU group of publications Monday, Sep 16, 2002 |
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Agri-Biz & Commodities
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Oilseeds & Edible Oil Coconut oil prices rise Our Bureau
KOCHI, Sept. 15 READY coconut oil price, which was ruling at Rs 4,800 a quintal before the Onam season, has fell to Rs 4,500 after the festival season. It has, however, shown an upward trend to close at Rs 4,540 per quintal at the week-end. After the festival, there was a total inactivity in the market. The prices drifted lower due to uncertainty created by the absence of buyers and the price touched Rs 4,500 on September 11, Mr N. Ananthan, Chief Executive, First Commodity Exchange of India Ltd (FCEI), said. After the bearish trend, the sentiment improved marginally at the weekend and the price showed an uptrend, he said. In futures, September delivery which rose to Rs 5,550 at the beginning of the contract now rules at Rs 4,600, and similarly October from Rs 5,470 to Rs 4,835 and November Rs 5,290 to Rs 5,000.
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