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Edible oils market witnessed a bearish trend tracking weak physical demand and futures. Malaysian palm oil futures declined for third consecutive day in line with weak world soya oil complex. On the Bombay Commodity Exchange, imported palmolein and soya oil eased by ₹6 and ₹2 for 10 kg each. Cotton refined oil lost ₹3. Rapeseed oil gained by ₹3 on report of lower crop. Local refineries reduced their rates by ₹4-5. Liberty was quoting palmolein at ₹488 JNPT and ₹490-493, super palmolein ₹525, soyabean refined oil ₹587. Ruchi traded palmolein for ₹488, soyabean refined oil ₹581 and sunflower refined oil ₹630. Allana’s rates: palmolein ₹493-496, super palmolein ₹520, soyabean refined oil ₹585 and sunflower oil ₹635.
In Saurashtra-Rajkot, groundnut oil Telia tin declined further by ₹25 to ₹1,560 and loose (10 kg) dropped to ₹1,000 (1,025).
BCE spot rates (₹/10 kg): groundnut oil 980 (980), soya refined oil 585 (587), sunflower exp. ref. 580 (580), sunflower ref. 630 (630), rapeseed ref. oil 708(705), rapeseed exp. ref. 678 (675), cottonseed ref. oil 585 (588) and palmolein 490 (496).
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