Comments
Imported edible oils — palmolein and soya oil — turned weak following the Malaysian market that closed lower on Thursday. Indigenous oils — groundnut, cotton and sunflower oils — ruled steady on lower arrivals from producing centers. Palmolein and rapeseed oil rose Re 1 for 10 kg on need-based buying.
Crude palm oil (CPO) futures on Bursa Malaysia Derivatives (BMD) closed lower on weak exports and declining Chicago soya oil futures. A wholesale trader said only about 100-120 tonnes of palmolein was resale-traded at Rs 555 in Mumbai because of lack of fresh demand and on need-based buying. Liberty was quoting palmolein at Rs 558. Ruchi's rates for palmolein were Rs 552, for soya refined oil Rs 593 and for sunflower oil Rs 660. Allana quoted palmolein at Rs 555 and resalers quoted at Rs 554-555.
Mumbai commodity exchange spot rates (Rs/10kg): Groundnut oil — 820 (820), soya refined oil — 596 (596), sunflower exp. ref. — 625 (625), sunflower ref. — 670 (670), rapeseed ref. oil — 600 (598), rapeseed expeller ref. 570 — (568), cotton ref. oil — 589 (589) and palmolein — 559 (558).
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.