Commodities

Edible oils witness a mixed trend

Our Correspondent Mumbai | Updated on January 26, 2011

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Edible oil prices in Mumbai witnessed a mixed trend on Tuesday, with palmolein and soya oil declining Rs 8 and Rs 3 for 10 kg, on bearish reports from Malaysia. Sunflower oil and rapeseed oil rose Rs 5 and Rs 3 on offering by refineries at producing level at higher rates. Groundnut oil and cotton oil ruled steady in line with producing centres.

In Mumbai market, local demand was limited on month-end period. A wholesale trader said, about 90-100 tonnes of palmolein were resale traded at Rs 588-585 on declining mode due to selling pressure. There was no trading for forward delivery as refineries were quoting higher rates. Liberty was quoting palmolein at Rs 605-608. Ruchi's rates were Rs 605 for palmolein, Rs 640 for soya refined oil and Rs 730 for sunflower refined oil.

Groundnut daily arrivals in Andhra Pradesh reached about 75,000-80,000 bags and in Karnataka about 2,500-3,000 bags new arrivals were noticed. Quality seed were in demand from exporters and millers. Indore NBOT soya oil futures continue to decline in line with the foreign market.

Indore NBOT soya oil futures February – 11 was Rs 658.40 (Rs 663.40) and March-11 Rs 663 (Rs 669).

Mumbai commodity exchange spot rate (Rs/10kg): Groundnut oil 770 (770), soya refined oil 632 (635), sunflower exp. ref. 675 (675), sunflower ref. 740 (730), rapeseed ref. oil 663 (660), rapeseed expeller ref. 633 (630), cotton ref. oil 625 (625) and palmolein was 590 (598).

Published on January 26, 2011

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