Edible oils witnessed bearish trend on Thursday tracking weak futures, recovery in rupee amid absence of fresh bulk demand. On BCE imported palmolein and soya oil declined by Rs2 each. All other edible oils were steady.

Malaysian palm oil and Chicago soya oil complex show down tend keeping activities here limited and need base. Local refineries have reduced their rates but reselling pressure by speculators kept stockiest away. During the day hardly 250 – 300 tons of palmolein was resold at Rs580 – Rs585 while refineries were quoting higher. Morale was weak said sources.

Liberty ’s reduced its rates for Palmolein Ex STC / Shapur to Rs604/ Rs605 for 15 March. Super palmolein at Rs625 and Soyabean refined oil ex Shapur Rs675 for 15 March.

Ruchi’s rate for Soyabean refined oil Rs675 for 31 March and Sunflower oil Rs685 for 15March.

Allana’s ratesfor Palmolein were ex – Khopoli / ex - IVP Rs 607 / Rs 610 up to 30 March. Soya refined oil Rs670 up to30 March. Sunflower refined oil Rs700 for 30 March.

Rajkot, groundnut oil telia tin was at Rs1480 (Rs1490) and Loose (10 kgs) was Rs940 (Rs950). Soyabean arrivals in Madhya Pradesh were 1.00- 1.10 lakh bags and its rates were Rs2725 – Rs2850 - ex Mandi and Rs2860– Rs2940 plant delivery. Indore soya oil exp. was Rs630 – Rs635 and Soya refi.oil was Rs660-Rs665.

On National Commodities and Derivatives Exchange Soyabean refined oil March -17 futures further decline to Rs652.00 (Rs.654.80), April-17 ease to Rs644.20 (Rs.647.45) and May-17 dropped to Rs638.50 (Rs.643.10) till evening.

Malaysian crude palm oil March -17 futures closed at MYR 2946 (MYR 3022), April-17 at MYR 2836 (MYR 2875) and May-17 ended at MYR2782 (MYR2809).

On The Bombay Commodity Exchange spot rates (Rs/10 kg) were: groundnut oil 980 (970), soya refined oil 660 (662), sunflower exp. ref. 630 (630), sunflower ref. 685 (685), rapeseed ref. oil 760 (760), rapeseed expeller ref. 730 (730), cottonseed ref. oil 665 (665) and Palmolein 583 (585).

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