Indigenous oils rise on tight supply

| Updated on: Nov 12, 2014

An opposite trend was witnessed in the edible oils markets on Wednesday. Futures weakened after lower closing of Malaysian palm oil futures, while the spot market remained positive due to tight supply.

On the Bombay Commodity Exchange, groundnut oil rose by ₹15/tin. Rapeseed oil and palmolein increased by ₹2 for 10 kg each while soyabean refined oil declined by ₹3.

Liberty traded palmolein at ₹510-512, super palmolein ₹537 and soyabean refined oil ₹612. Ruchi was quoting palmolein for ₹510, soyabean refined oil ₹601 and sunflower refined oil ₹635. Allana was quoting palmolein at ₹510, super palmolein ₹545, soyabean refined oil ₹610 and sunflower oil ₹640. In Saurashtra-Rajkot, groundnut oil Telia tin was up ₹10 to ₹1,300 and loose (10 kg) at ₹830 (₹835).

BCE spot rates (₹/10 kg): groundnut oil 845 (830), soya refined oil 597 (600), sunflower exp. ref. 580 (575), sunflower ref. 630 (630), rapeseed ref. oil 730 (728), rapeseed expeller ref. 700 (698) cottonseed ref. oil 595 (595) and palmolein 500 (498).

Published on November 12, 2014

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