Bearish cues weigh on edible oils

Our Correspondent Mumbai | Updated on February 19, 2015 Published on February 19, 2015

The edible oils market witnessed dull trading on Thursday on lack of physical demand amid weak futures. On the Bombay Commodity Exchange, cotton refined oil increased by ₹1 and palmolein dropped by ₹3 for 10 kg each. Local refineries reduced rates but resale pressure gripped the market which witnessed no activities. Stockists preferred to fulfil old commitments. Resellers were offering palmolein at ₹506-507 ex-JNPT and ₹512-513 at Mumbai.

Vikram Global Commodities (P) Ltd quoted ₹535 for Malaysian super palm March delivery. Liberty was quoting palmolein at ₹515-518, super palmolein ₹538 and soya refined oil ₹620. Ruchi was quoting palmolein for ₹515, soyabean refined oil ₹611 and sunflower refined oil ₹630. Allana traded palmolein at ₹517, super palmolein ₹540, soyabean refined oil ₹612, sunflower oil ₹ 632.

In Saurashtra-Rajkot, groundnut oil Telia tin ruled steady at ₹1,520 and loose (10 kg) at ₹970.

BCE spot rates (₹/10 kg): groundnut oil 960 (960), soya refined oil 611 (611), sunflower exp. ref. 580 (580), sunflower ref. 630 (630), rapeseed ref. oil 740 (740), rapeseed exp. ref. 710 (710) cottonseed ref. oil 589 (588) and palmolein 512 (515).

Published on February 19, 2015
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