Edible oils in bear grip

Our Correspondent Mumbai | Updated on January 20, 2018 Published on May 23, 2016

Edible oils market ruled weak on Monday on back of bearish futures amid slack demand. With limited and isolated activities on BCE imported palmolein and soya oil declined by ₹2 per 10 kg each. Local refineries reduced their rates in the range of ₹5-10 but resellers were offering more discount keeping overall volume thin. Sunflower and cotton oil also dropped by ₹5 each. Groundnut and rapeseed oil ruled unchanged. At the end of the day Liberty was quoting palmolein for ₹595/596 ex Ghatkopar / Shapur, super palmolein ex JNPT ₹605, soyabean refined oil ex Shapur ₹645. Ruchi’s rates: palmolein ex Patalganga ₹581 and Ex JNPT ₹575, soyabean refined oil ₹628 and ₹628 for June, sunflower refined oil ₹725. Allana was quoting Ex Khopoli Palmolein ₹595 for 25 June and ex JNPT ₹592 for 25 June, soya refined oil ₹635 for 25 June, sunflower refined oil ₹740 up to 25 June.

At Rajkot, groundnut oil Telia tin was ₹1,800 (1,790) and loose (10 kg) was ₹1,150 (1,130).

On The Bombay Commodity Exchange spot rates (₹/10 kg) were: groundnut oil 1180 (1180), soya refined oil 625(627), sunflower exp. ref. 660 (660), sunflower ref. 735 (740), rapeseed ref. oil 840 (840), rapeseed expeller ref. 810 (810), cottonseed ref. oil 646 (651) and palmolein 575 (577).

Published on May 23, 2016
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