Imported soya oil and palmolein gained Rs 2 and Rs 4 for 10 kg as local refiners, tracking firm reports from foreign markets, quoted higher prices for them on Friday.

Cotton refined oil rose by Rs 2 for 10 kg. However, groundnut oil, rapeseed oil and sunflower oil remained unchanged despite festivals beginning on Saturday. Local demand was less-than-expected even as supplies from producers came down.

Crude palm oil (CPO) futures on Bursa Malaysia Derivatives (BMD) closed higher for the third consecutive day on a bullish report for soyabeans and cotton from The US Department of Agriculture. Resellers traded 150-200 tonnes of palmolein at Rs 552-549. Liberty offered palmolein at Rs 552, soya oil at Rs 636 and sunflower oil at Rs 695. Ruchi quoted palmolein at Rs 551, soya refined oil at Rs 632 and sunflower oil at Rs 695. Allana offered palmolein at Rs 552. In Rajkot and Saurashtra, groundnut oil remained unchanged at Rs 1475 for a telia tin and at Rs 955 for loose (10 kg). Malaysia's BMD CPO September contract closed at MYR3,062 (MYR3,053), October at MYR3,015(MYR2,993) and November MYR2,983 (MYR2,963) a tonne. September contract of soya oil on National Board of Trade in Indore closed at Rs 652.50 (Rs 647) and October at Rs 633 (Rs 631).

Mumbai Commodity Exchange spot rate (Rs/10 kg): Groundnut oil 965 (965), soya refined oil 632 (630), sunflower exp. ref. 655 (655), sunflower ref. 700 (700), rapeseed ref. oil 683 (683), rapeseed expeller ref. 653 (653), cotton ref. oil 652 (650) and palmolein 553 (549).

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