Imported oils flare up with bullish futures

Our Correspondent Mumbai | Updated on December 29, 2014 Published on December 29, 2014

Prices of edible oils increased further on Monday with imported palmolein and soya oil gaining ₹13 and ₹5/10 kg each in Mumbai tracking extended gain in the futures market and a ₹10-15 price hike by local refineries. However, stockists preferred to stay away keeping the volumes thin.

On the Bombay Commodity Exchange, groundnut oil was up ₹20, sunflower oil, rapeseed and cotton oil ₹5 each. Palmolein and soya oil rose by ₹54 and ₹60 during the period.

Vikram Global Commodities (P) Ltd quoted ₹545/10 kg for Malaysian super palm January delivery. Liberty was quoting palmolein at ₹540-542 and super palmolein at ₹562, soyabean refined oil at ₹660. Ruchi traded palmolein for ₹541, soyabean refined oil ₹655 and sunflower refined oil ₹680. Allana’s rates: palmolein ₹545, soyabean refined oil ₹655 and sunflower oil ₹680.

In Saurashtra-Rajkot, groundnut oil Telia tin was flat at ₹1,470 and loose (10 kg) ₹950.

BCE spot rates (₹/10 kg): groundnut oil 930 (910), soya refined oil 650(645), sunflower exp. ref. 615 (610), sunflower ref. 675 (665), rapeseed ref. oil 820 (815), rapeseed expeller ref. 790 (785), cottonseed ref. oil 605 (600) and palmolein 536 (523).

Published on December 29, 2014
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