Activities in edible oils market remained subdued as traders stayed away from fresh bulk buys tracking weak futures. On the BCE, palmolein increased by ₹8 per 10 kg narrowing gap between local refineries and resellers’ rates. All other edible oils were steady. Thin and isolated volume kept sentiments steady.
Sources said tracking weak report from overseas markets amid slack demand volume remain need base in ready – weekly for palmolein. During the day hardly 200 – 250 tonnes palmolein were resold at ₹655-660. Malaysian palm oil and Chicago soya oil show bearish trend keeping domestic NCDE soya oil down by ₹1-2 till evening.
Ruchi: Soya oil ₹745 for 10 March and Sunflower refi.oil ₹740 for 10 March.
Golden agri : Palmolein ₹662 – JNPT / 665 - STC for 5 – 15 March.
At Rajkot : groundnut oil prices for Telia Tin jumped to ₹1,300 (1,270) and Loose (10 kg) increased to ₹810 (780).
BCE spot rates (₹/10 kg) were: groundnut oil 845 (845), soya refined oil 740 (740), sunflower exp. ref. 680 (680), sunflower ref. 733 (732), rapeseed ref. oil 770 (770), rapeseed expeller ref. 740 (740), cottonseed ref. oil 742 (742) and Palmolein 655 (647).