Edible oils rise on stronger cues

Sharp rise in Malaysian palm oil futures amid higher spot demand lifted the domestic edible oils market. On the BCE, cotton and palmolein rose by ₹2 and ₹1 per 10 kg each. Groundnut oil eased by ₹10 on higher arrivals of nuts at Saurashtra. Other edible oils were steady. During the day, about 4,600-4,700 tonnes of imported oils were bought by stockists. At Rajkot, groundnut oil telia tin declined to ₹1,440 (1,450) and loose (10 kg) eased to ₹900 (910). BCE spot rates (₹/10 kg): groundnut oil 930 (940), soya ref. 700 (700), sunflower ref. 705 (705), rapeseed exp. ref. 770 (770), cottonseed ref. 690 (688) and palmolein 613 (612).