Imported edible oils rose on Tuesday on higher demand for the festivals coming up from next week. Local demand, however, was muted. Cotton refined oil, following a firm cotton market, extended gains by Rs 2 for 10 kg. Soya refined rose by Re 1 and rapeseed oil by Rs 5 on higher quotes by producers even as arrivals increased at producing centres.

Groundnut oil, sunflower oil and palmolein ruled steady as in dull market. Local refineres raised prices of palmolein and soya oil marginally by Re 1 and Rs 2, expecting better demand.

The market ruled steady as there was no new demand, said Mr Santosh Shethia, a broker. Supplies may be squeezed if local demand goes up until new stocks are imported after August 10. Resellers offered palmolein at Rs 555-556 in Mumbai. Liberty quoted palmolein at Rs 560, soya oil at Rs 644 and sunflower oil at Rs 700. Ruchi quoted palmolein at Rs 557, soya refined oil at Rs 640 and sunflower oil at Rs 700. Allana offered palmolein at Rs 560. In Rajkot and Saurashtra, groundnut oil gained Rs 10 at Rs 1,485 for a telia tin and at Rs 965 for loose (10 kg).

September contract for crude palm oil on Bursa Malaysia Derivatives closed at MYR3,121 (MYR3,128), October at MYR3,113 (MYR3,121) and November MYR3,109 (MYR3,120) a tonne. August contract for soya oil on National Board of Trade in Indore closed lower at Rs 663.80 (Rs 665.20) and September dipped to Rs 661 (Rs 662.20).

Mumbai Commodity Exchange spot prices (Rs/10 kg): Groundnut oil 965 (965), soya refined oil 643 (642), sunflower exp. ref. 655 (655), sunflower ref. 710 (710), rapeseed ref. oil 700 (695), rapeseed expeller ref. 670 (665), cotton ref. oil 669 (667) and palmolein 556 (556).

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