Commodities

Edible oils rule steady on slack buying

Our Correspondent Mumbai | Updated on July 25, 2014 Published on July 25, 2014

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Edible oils market ruled calm and steady on Friday with isolated resale trade amid lack of demand and bearish futures. On the Bombay Commodity Exchange, imported palmolein and soyabean refined oil increased by ₹1 for 10 kg each as local refineries rates by ₹1-2 despite lack of demand. Sources said sentiments rule cautious tracking bearish futures markets amid slack physical demand.

Progress of monsoon rains in western parts has increased the hope for kharif crops.Vikram Global Commodities (P) Ltd, Chennai, quoted ₹600/10 kg for August delivery of Malaysian super palmolein. Liberty was quoting palmolein at ₹571, super palmolein ₹591 and soyabean refined oil ₹644. Ruchi was quoting palmolein for ₹568, soyabean refined oil ₹638 and sunflower refined oil ₹640 . Allana was quoting palmolein at ₹568. In Saurashtra, groundnut telia tin ruled steady at ₹1,235 and loose (10 kg) at ₹790.

BCE spot rates (₹/10 kg): groundnut oil 795 (785), soya refined oil 643 (642), sunflower exp. ref. 585 (585), sunflower ref. 648 (645), rapeseed ref. oil 725 (726), rapeseed expeller ref. 695 (696) cottonseed ref. oil 660 (660) and palmolein 569 (568).

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Published on July 25, 2014
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