Commodities

Bearish trend continues in cooking oils

Our Correspondent Mumbai | Updated on January 17, 2018 Published on January 17, 2018

Bearish trend continued in edible oils market on Wednesday in line with extended loss in foreign markets amid lack of demand. Activities were very limited for ready – weekly in resells. Local refineries have reduced their rates for imported oils but buyers were lacking. On the BCE, palmolein, soya refined oil and cotton oil declined by ₹4, ₹5 and ₹5 per 10 kg each. Malaysian palm oil and Chicago soya oil futures were bearish.

During the day, stockists bought about 200-250 tonnes of palmolein at ₹618-623 and about 100-150 tonnes of soyabean refined oil at ₹710 for ready- weekly. Demand for other oils were lacking sources said.

Liberty: Palmolein Ex Shapur ₹640, Super palmolein ₹660. Allana: Palmolein Ex Khapoli ₹640, Soya refined oil ₹735, Sunflower refined oil ₹730.

Ruchi: Palmolein ₹633, Soya oil ₹721 and Sunflower refi. oil ₹716.

Golden agri: Palmolein ₹622.

At Rajkot: groundnut oil telia tin was steady at ₹1,430 and loose (10 kg) at ₹900.

BCE spot rates (₹/10 kg) were: groundnut oil 930 (930), soya refined oil 715 (720), sunflower exp. ref. 660 (658), sunflower ref. 712 (713), rapeseed ref. oil 790 (790), rapeseed expeller ref. 760 (760), cottonseed ref. oil 695 (700) and Palmolein 620 (624).

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Published on January 17, 2018
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