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Edible oils rose sharply on Friday on the back of hike in import duty. Local refineries increased their rates by over ₹20 for 10 kg which encouraged stockists to give fresh orders to fill up the empty pipeline.
On the Bombay Commodity Exchange, prices went up by ₹19-27 for palmolein and soyabean oil while groundnut, rapeseed and sunflower oil increased in the range of ₹20-30 each. Cotton refined oil gained ₹13.
Liberty was quoting palmolein at ₹523-525 and super palmolein ₹545, soyabean refined oil ₹640. Ruchi traded palmolein for ₹520-523, soyabean refined oil ₹640 and sunflower refined oil ₹660. Allana traded palmolein at ₹530, soyabean refined oil ₹640 and sunflower oil ₹670. In Saurashtra-Rajkot, groundnut oil Telia tin was flat at ₹1,410 and loose (10 kg) ₹900.
BCE spot rates (₹/10 kg): groundnut oil 895 (870), soya refined oil 632(605), sunflower exp. ref. 600 (570), sunflower ref. 655 (635), rapeseed ref. oil 805 (785), rapeseed expeller ref. 775 (755) cottonseed ref. oil 590 (577) and palmolein 512 (493).
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