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Edible oils market witnessed a bearish trend on slack demand amid thin volatility in Malaysian palm and Chicago soya oil futures. Lack of bulk demand and sentiments to fulfil old commitments kept activities limited in Mumbai. On the BCE, soya, sunflower and rapeseed oil declined by ₹10 per 10 kg each. Cotton oil and palmolein lost ₹3 each. Groundnut oil was up ₹5. Sources said as stockists preferred to fulfil old commitments and stayed away from fresh bulk buys, the market remained under resale pressure. Local refineries kept their rates unchanged.
Liberty: Palmolein ex STC ₹737, ex JNPT ₹738, ex Shapur ₹742, super palmolein ₹767 and sunflower refined oil ₹790. Allana: Palmolein ex Khopoli ₹735, Soyabean refined oil ₹770 and Sunflower refined oil ₹775. Ruchi: ex Patalganga Soya refined oil ₹763 and sunflower refi.oil ₹758. Golden agri: Palmolein ex JNPT ₹722 and ex STC ₹724.
At Rajkot, groundnut oil telia tin was up at ₹1,320 (₹1,310) and loose (10 kg) was higher by ₹10 to ₹810.
BCE spot rates (₹/10 kg): groundnut oil 855 (850), soya refined oil 750 (760), sunflower exp. ref. 695 (705), sunflower ref. 750 (758), rapeseed ref. oil 780 (790), rapeseed exp. ref. 750 (760), cottonseed ref. oil 767 (770) and palmolein 715 (718).
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