Edible oils priced declined for the second consecutive day on Thursday following the absence of physical demand. Tracking over-night bearish overseas markets, local refineries opened lower by ₹2-3/10 kg for palmolein and ₹4 for soya oil but the response was tepid as resellers cut prices further. Weakness in the domestic currency was a supporting factor for the market. On the Bombay Commodity Exchange, palmolein and soya oil declined by ₹2 and ₹6 respectively. Sunflower and cotton refined oil dropped by ₹5 and ₹1. Rapeseed oil increase by ₹5 and Groundnut oil remain unchanged.

During the day hardly 250-300 tonnes of palmolein were resold for ready delivery. As import supply is ample and stockists have bought enough in advance, activities remained need-basedAt the end of the day, Liberty was quoting palmolein at ₹510 –₹513 for February-March, Super palmolein ₹533 up to March.  

For March, Ruchi quoted palmolein at ₹511, Soyabean refined oil at ₹611, and sunflower refined oil at ₹635.

Allana was quoting palmolein ₹510 for February and ₹511 for March. Super palmolein was quoted at ₹535 for February and ₹538 for March 1-15. Soyabean refined oil at ₹614 for February and ₹612 for March 1-15, Sunflower oil at ₹635 for March 15.

In Saurashtra – Rajkot Groundnut oil telia tin was at ₹1,530 and loose (10 kg) at ₹980.

On The Bombay Commodity Exchange spot rates (₹/10 kg) were: groundnut oil 970 (970), soya refined oil 612 (618), sunflower exp. ref. 580 (585), sunflower ref. 630 (635), rapeseed ref. oil 740 (735), rapeseed expeller ref. 710 (705) cotton seed ref. oil 580 (581) and palmolein 503 (505).   

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