Bullish trend continued in edible oils with improved volume on back of import duty hike by centre . Sudden jump in import cost led indigenous edibles also to rise.Sources said calculating social welfare cess the affective duty on Palm oil comes to nearly 15 per cent which forced local importers – refineries to raise their rates accordingly. On the BCE, since Friday palmolein rose by ₹48, soyabean and Sunflower refined oil by ₹20 each. Indigenous groundnut, cotton and rapeseed oil also went up by ₹25, ₹23 and ₹20 each since Friday. During the day about 1000 tonnes of palmolein was resold at ₹700-710 barring that there were no activities. As cost of parity is much higher, once the reselling pressure eases prices may go up further sources added.
Liberty: Palmolein Ex Shapur ₹735 for March. Super palmolein ₹760 for March and Sunflower refined oil ₹780 for March. Allana: Palmolein Ex Khapoli ₹735- JNPT for March and ₹740 – Khopoli for April any ten days. Ruchi: Soya oil ₹770 for 10 March and Sunflower refi.oil ₹765 for 10 March. Golden agri: Palmolein ₹735 – JNPT for 28 March. At Rajkot: groundnut oil prices for Telia Tin jumped to ₹1,330 (₹1,310) and Loose (10 kg) increased to ₹825 (₹810).
BCE spot rates (₹/10 kg) were: groundnut oil 870 (845), soya refined oil 760 (755), sunflower exp. ref. 700 (700), sunflower ref. 760 (760), rapeseed ref. oil 790 (780), rapeseed expeller ref. 760 (750), cottonseed ref. oil 765 (760) and Palmolein 703 (700).
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