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A rebound in domestic and overseas futures amid higher demand at lower price turned sentiments positive on the edible oils market on Tuesday. On extended loss of futures, local refineries cut their rates for palm oil and soya oil by ₹10-13 for 10 kg attracting fresh bulk buying.
On the Bombay Commodity Exchange, imported palmolein and soya oil declined by ₹8 and ₹5 each. Cotton, groundnut and rapeseed oils lost ₹8, ₹10 and ₹15 each.
Vikram Global Commodities quoted ₹545 for Malaysian super palm February delivery. Liberty was quoting palmolein at ₹480-483 and super palmolein at ₹503. Ruchi traded palmolein for ₹481, soyabean refined oil ₹620, sunflower refined oil ₹640. Allana’s rates: palmolein ₹481, soyabean refined oil ₹623 and sunflower oil ₹645.
In Saurashtra-Rajkot, groundnut oil Telia tin declined to ₹1,550 (₹1,555) and loose (10 kg) dropped to ₹990 (₹995).
BCE spot rates (₹/10 kg): groundnut oil 980 (990), soya refined oil 620 (625), sunflower exp. ref. 600 (600), sunflower ref. 640 (640), rapeseed ref. oil 750 (765), rapeseed expeller ref. 720 (735), cottonseed ref. oil 560 (568) and palmolein 483 (491).
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