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Imported palmolein and soyabean refined oil extended loss by ₹5 and ₹3 for 10 kg each on Wednesday on lack of demand amid bearish futures. Sunflower and rapeseed refined oil also declined by ₹5 and ₹1 each. Cotton refined oil gained ₹5 . Deficit rains kept domestic soya oil futures volatile but the undercurrent was weak on poor physical demand.
During the day hardly 300-350 tonnes of palmolein were traded at ₹565. Stockists preferred to fulfil old commitments for other edible oils. Vikram Global Commodities (P) Ltd, Chennai, quoted ₹635/10 kg for July delivery of Malaysian super palmolein. Liberty was quoting palmolein at ₹572, super palmolein ₹589 and soyabean refined oil ₹658. Ruchi was quoting palmolein at ₹556, soyabean refined oil ₹645, sunflower refined oil ₹652. Allana’s rates were palmolein ₹575, soyabean refined oil ₹654 for August and sunflower refined oil ₹655 for August.
In Saurashtra, groundnut telia tin increased by ₹10 to ₹1,210 and loose (10 kg) by ₹5 to ₹775.
BCE spot rates (₹/10 kg): groundnut oil 775 (775), soya refined oil 655 (658), sunflower exp. ref. 595 (595), sunflower ref. 652 (657), rapeseed ref. oil 702 (703), rapeseed expeller ref. 672 (673) cottonseed ref. oil 670 (665) and palmolein 565 (570).
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