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Soyabean refined oil increased by ₹1, while all other edible oils ruled unchanged on Wednesday tracking weak futures markets amid slack physical demand. Hardly 100-150 tonnes of palmolein were re-sold at ₹568-570.
Sources said that the progress of monsoon in main producing States has increased the chances of revival of kharif oilseeds crops. Also weak overseas palm and soya oil futures kept the market sentiment under pressure. However, traders are optimistic about higher physical demand in August due to host of festivals. Local refineries kept their rates unchanged.
Liberty was quoting palmolein at ₹571, super palmolein ₹591 and soyabean refined oil ₹646. Ruchi was quoting palmolein ₹568, soyabean refined oil ₹643, sunflower refined oil ₹641. Allana traded palmolein at ₹568, soyabean refined oil ₹642 and sunflower oil ₹643.
In Saurashtra-Rajkot, groundnut telia tin ruled steady at ₹1,240 and loose (10 kg) at ₹790. BCE spot rates (₹/10 kg): groundnut oil 800 (800), soya refined oil 645 (644), sunflower exp. ref. 588(588), sunflower ref. 650 (650), rapeseed ref. oil 726 (726), rapeseed expeller ref. 696 (696) cottonseed ref. oil 660 (660) and palmolein 568 (568).
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