Edible oils market witnessed diverse trend among imported and indigenous oils on Wednesday. Local refineries have increased their rates by Rs 8-10 for 10 kg for palmolein twice on Wednesday.

In Mumbai, palmolein and soya refined oil rose by Rs 7 and Rs 3 for 10 kg each tracking refineries’ higher rates.

Groundnut oil, sunflower and cotton refined oil ruled steady while rapeseed oil declined by Rs 14 for 10 kg. About 100-150 tonnes of palmolein were resale traded in the range of Rs 621-622.

Liberty quoted palmolein at Rs 632-633 for August and Rs 635-637 for September, super palmolein at Rs 682, soya oil at Rs 755 and sunflower refined oil at Rs 772.

Ruchi quoted palmolein at Rs 630 for August and Rs 633 for September. Soya refined oil was at Rs 749 for August and Rs 751 for September.

Sunflower refined oil was Rs 761 for August and Rs 766 for September. In Saurashtra – Rajkot, groundnut oil was steady at Rs 1,920 for Telia tin and Rs 1,250 (Rs 1,260) for loose-10kg.

On the National Board of Trade – Indore, soya refined oil August futures was Rs 786 (Rs 784.80).

Malaysia's crude palm oil September contracts settled lower at MYR 2,932 (MYR 2,965), October at MYR 2,945 (MYR 2,980) and November at MYR 2,953 (MYR 2,985) a tonne.

The Bombay Commodity Exchange spot rates were (Rs/10 kg): groundnut oil 1,220 (1,220), soya refined oil 745 (742), sunflower exp. ref. 700 (700), sunflower ref. 760 (760), rapeseed ref. oil 883 (897), rapeseed expeller ref. 853 (867) cotton ref. oil 755 (755) and palmolein 622 (615).

(This article was published on August 1, 2012)
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