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Sentiment in edible oils market turned bullish on Monday tracking firm overseas futures markets led by fear of El-Nino’s negative effect, slowed sowing globally and delayed monsoon in India. On the Bombay Commodity Exchange, prices of palmolein, rapeseed oil and cotton oil rose by ₹3, ₹5 and ₹1 for 10 kg each. Vikram Global Commodities (P) Ltd quoted ₹535 for Malaysian super palm May delivery. Liberty was quoting palmolein at ₹515 JNPT, super palmolein ₹548 and soyabean refined oil ₹605. Ruchi’s rates: palmolein ₹515 JNPT, soyabean refined oil ₹601, sunflower refined oil ₹701. Allana traded palmolein ₹515 JNPT, super palmolein ₹548, soyabean refined oil ₹605 and sunflower oil ₹705.
In Saurashtra-Rajkot, groundnut oil Telia tin increased to ₹1,450 (1,440) and loose (10 kg) at ₹925 (920).
BCE spot rates (₹/10 kg): groundnut oil 925 (925), soya ref 601 (601), sunflower exp. ref. 645 (645), sunflower ref. 700 (700), rapeseed ref. oil 860 (855), rapeseed exp. ref. 830 (825), cottonseed ref. oil 610 (609) and palmolein 510 (507).
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