Edible oil prices in Mumbai market increased taking cues from higher closing of Malaysian market and projection of Chicago market. Palmolein was up Rs 3, cotton refined oil climbed Rs 3 and soya refined oil increased Rs 5 for 10 kg.

Groundnut oil was unchanged on steady reports from producing centres. Based on bullish foreign markets, India's Indore NBOT soya oil futures shot up sharply from lower levels. Market sentiment improved on active participation / volume of trade.

Market sources said, on Wednesday, 1,600 /1,700 tonnes palmolein was traded, indicating increased active participation of stockists. After a gap of few days volume took place directly with refineries. About 150 tonnes of palmolein was resale traded in the range of Rs 606 / Rs 608. Allana has sold 350 / 400 tonnes of palmolein at Rs 621 for March 20 delivery. Ruchi has sold about 1,000 tonnes of palmolein in the range of Rs 619 / Rs 622. Dhulia line sellers were offering cotton refined oil higher at Rs 624 but there were no buyers. Last Liberty was quoting palmolein Rs 620, Ruchi's rates were Rs 612/Rs 614, soya refined oil Rs 635/Rs 637 and sunflower refined oil Rs 707. Malaysian BMD CPO futures closed higher for the second day by 26,46 ringgits. NBOT soya oil futures shot up Rs 7.

Malaysia's CPO futures - NBOT futures : Malaysia's BMD CPO futures February -10 closed at MYR 3951 (3925), March-11 was at 3959 (3913) MYR. Indore NBOT soya oil futures February ? 11 shot up to Rs 650 (Rs 643) and March-11 Rs 669 (Rs 662.50).

Mumbai commodity exchange spot rate (Rs/10kg) : Groundnut oil 760 (760), Soya refined oil 635 (630), Sunflower exp. ref. 680 (680), Sunflower ref. 720 (725), Rapeseed ref. oil 655 (660), Rapeseed expeller ref. 625 (630), Cotton ref. oil 621 (618) and Palmolein was 608 (605).

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