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A mixed trend was witnessed in the edible oils spot market on need-based demand on Thursday. On the futures market, edible oils ruled firm on the back of higher Malaysian palm oil closing. On the Bombay Commodity Exchange, groundnut oil rose by ₹10; cotton and palmolein declined by ₹2 and ₹1 for 10 kg each. Local refineries kept their rates steady tracking firm overseas reports. New arrivals are peaking in producing areas keeping indigenous oilseeds and oils under pressure. However, with start of new month next week physical demand is expected to rise along with support from overseas markets.
Vikram Global Commodities (P) Ltd quoted ₹535 for Malaysian super palm March delivery. Liberty was quoting palmolein at ₹508-511, super palmolein ₹531 and soyabean refined oil ₹610. Ruchi traded palmolein at ₹508, soyabean refined oil ₹605 and sunflower refined oil ₹625. Allana’s rates: palmolein ₹509, super palmolein ₹534, soyabean refined oil ₹605, sunflower oil ₹625.
In Saurashtra-Rajkot, groundnut oil Telia tin was flat at ₹1,445 and loose (10 kg) was ₹925.
BCE spot rates (₹/10 kg): groundnut oil 930 (920), soya ref. oil 604 (604), sunflower exp. ref. 575 (575), sunflower ref. 625 (625), rapeseed ref. oil 715 (715), rapeseed exp. ref. 685 (685), cottonseed ref. oil 575 (577) and palmolein 503 (505).
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