Edible oils market bounced back from the lower level on Friday, tracking higher closing of Malaysian palm oil futures. On the Bombay Commodity Exchange, palmolein declined by ₹1, as local refineries cut prices.

Cotton refined oil declined by ₹1 and groundnut oil increased by ₹10. Soyabean, sunflower and rapeseed oil ruled steady. After dull activities in the previous two sessions, local stockists came forward with fresh orders on expectation of higher demand. All three local refineries managed to sell about 500-600 tonnes of palmolein at ₹566-568 and ₹250-300 tonnes of soyabean refined oil at ₹632.

At the end of the day, liberty was quoting palmolein at ₹568 for August 22-7 to 20-8, super palmolein at ₹590 for August 25-7 to 20-8, and soyabean refined oil at ₹640 for July.

Ruchi was quoting palmolein at ₹566 for August 10-31, ₹568 for September. Soyabean refined oil at ₹632 for August 10-31 and ₹635 for September. Allana was quoting palmolein at ₹566 for August 10-31, ₹568 for September, soyabean refined oil at ₹635 for August 15-31 and ₹635 for September.

Sunflower refined oil was quoted at ₹632 for August. In Saurashtra, Groundnut Telia tin ruled steady at ₹1,210 (₹1,210) and loose (10 kg) ₹770 (₹770).

On the National Commodities and Derivatives Exchange, soyabean refined oil Julyfutures were ₹680.60 (₹680.20), August ₹678.00 (₹673.20) and September at ₹665.80 (₹.662.40).

On the Bombay Commodity Exchange spot rates (Rs/10 kg) were: groundnut oil 790 (780), soya refined oil 640 (640), sunflower exp. ref. 575 (575), sunflower ref. 640 (640), rapeseed ref. oil 726 (726), rapeseed expeller ref. 696 (696) cottonseed ref. oil 654 (655) and palmolein 567 (568).

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