Agri Business

Bullish cues support edible oils

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


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).

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Published on March 25, 2016
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