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Edible oils market witnessed a bearish trend on back of slack demand amid weak domestic and overseas futures. Expectation of arrivals of rabi crops kept indigenous edible oils under pressure while weak futures pulled down imported oils.
On the Bombay Commodity Exchange, groundnut, sunflower, rapeseed and cotton oil declined by ₹5-10 for 10 kg each. Palmolein and soya oil lost ₹6 and ₹1 each.
Vikram Global Commodities (P) Ltd quoted ₹540 for Malaysian super palm February delivery. Ruchi traded palmolein at ₹514, soyabean refined oil ₹615 and sunflower refined oil ₹635. Allana’s rates: palmolein ₹513-514, super palmolein ₹537-538, soyabean refined oil ₹618, sunflower oil ₹637.
BCE spot rates (₹/10 kg): groundnut oil 970 (980), soya ref. 618 (619), sunflower exp. ref. 585 (590), sunflower ref. 635 (635), rapeseed ref. 735 (740), rapeseed exp. ref. 705 (710), cottonseed ref. 581 (585) and palmolein 505 (511).
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