Agri Business

Bullish cues support edible oils

Our Correspondent Mumbai | Updated on January 20, 2018 Published on March 25, 2016

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Edible oils market ruled firm tracking bullish overseas futures amid continuous buying support from local traders. Local refineries increased their rates for palmolein by ₹2/10 kg in line with bullish futures.

In Mumbai, edible oils prices were up ₹2-5 on higher demand. Malaysian palm oil closed higher keeping sentiments positive in domestic spot-futures markets.

At higher prices, retail demand eased while stockists preferred to fulfil old commitments. Ruchi was quoting palmolein at ₹572, soyabean refined oil ₹638 and sunflower refined oil ₹730.

Allana traded palmolein for ₹575, soya refined oil ₹635 and sunflower refined ₹735. In Saurashtra-Rajkot, groundnut oil telia tin was at ₹1,580 (1,570) and loose (10 kg) increased to ₹1,000 (990).

Published on March 25, 2016
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