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The edible oils market ruled weak on Thursday, tracking bearish overseas futures amid progress of rain in main producing States – Gujarat, Maharashtra and Madhya Pradesh. On the Bombay Commodity Exchange, imported palmolein and soyabean refined oil increased by ₹1 and ₹2 for 10 kg each. Cotton and rapeseed refined firmed up by ₹4 and ₹2 each. Groundnut oil dropped by ₹5 and sunflower oil ruled steady. The volume in spot remained thin and isolated as stockists stayed away. Shailesh Kataria of Riddhi Brokers told Business Line , “Arrival of monsoon rain in Maharashtra, Gujarat and Madhya Pradesh has increased the hope of speedy sowing and higher oilseeds output. Bearish overseas futures markets also weighed on overall sentiment.” Liberty was quoting palmolein at ₹570 , super palmolein ₹590, soyabean refined oil ₹640. Ruchi was quoting palmolein ₹565, soyabean refined oil ₹632 and sunflower refined oil ₹630 for August. Allana was trading palmolein for ₹566, soyabean refined oil ₹637 and sunflower refined oil ₹632. In Saurashtra, groundnut telia tin was steady at ₹1,210 and loose (10 kg) ₹770.
BCE spot rates (₹/10 kg): groundnut oil 780 (785), soya refined oil 640 (638), sunflower exp. ref. 575 (575), sunflower ref. 640 (635), rapeseed ref. oil 726 (724), rapeseed expeller ref. 696 (694) cottonseed ref. oil 655 (651) and palmolein 568 (567).
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