Edible oils prices increased on Thursday as the Centre issued a revised notification for tariff value of imported crude edible oils linked with prevailing international market prices. Local refineries have increased their rates for imported edible oils considering higher import cost said traders. The Malaysian palm oil futures market was closed. Domestic futures markets witnessed firm trend. In Mumbai, barring palmolein, which rose by Re 1, all the other edible oils declined till noon on lack of demand.

Groundnut and sunflower expeller oils dropped by Rs 5 each. Cotton refined oil made a loss of Rs 8 and soyabean refined oil declined by Re 1.

In spot market, volumes were thin and isolated on buyer resistance. During the day, about 450-500 tonnes of palmolein were sold by Adani at Rs 502-505 for January. About 50-60 tonnes were resale traded at Rs 505-507 ex-JNPT in ready, said sources.

Towards the end of the day Liberty was quoting palmolein at Rs 520-522 for February. Super palmolein Rs 565 for Feb, Soya refined oil Rs 730 for Feb 20.

Ruchi quoted palmolein at Rs 521 for Feb 26, soyabean refined oil at Rs 721 for Feb 10, and sunflower refined oil Rs 800 for Feb 26. Allana’s rates for palmolein were Rs 520 and super palmolein Rs 565 for Feb 10.

In Saurashtra – Rajkot, groundnut oil dropped by Rs 25 to Rs 2,010 (Rs 2,035) for telia tin and by Rs 25 to Rs 1,300 (Rs 1,325) for loose (10 kg).

On the National Commodities and Derivatives Exchange, soyabean refined oil’s February futures inched up by Rs 4.35 to Rs 729.60 (Rs 725.25), March up by Rs 2.25 to Rs 710.60 (Rs 708.35) and April was Rs 698.60 (Rs 698.60).

The Bombay Commodity Exchange spot rates (Rs/10 kg): Groundnut oil 1,290 (1,295), soya refined oil 705 (706), sunflower exp. ref. 715 (720), sunflower ref. 795 (795), rapeseed ref. oil 820 (820), rapeseed expeller ref. 790 (790) cottonseed ref. oil 625 (633) and palmolein 507 (506).

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