MARKET DEVELOPMENT
Bearish Cues Drag Edible Oils
Bearish Cues Drag Edible Oils
10/12/2014 (Hindu Business Line) - The edible oils market weakened on Tuesday, tracking bearish overseas and domestic palm and soya oil futures. However, on the Bombay Commodity Exchange, groundnut, soya, rapeseed and cotton oil registered a gain of ₹5-10 for 10 kg. Palmolein declined by ₹1 and sunflower oil ruled steady. Liberty was quoting palmolein for ₹481/483, super palmolein ₹503 and soyabean refined oil ₹591. Ruchi traded palmolein at ₹478, soyabean refined oil ₹588 and sunflower refined oil ₹635. Allana rates: palmolein ₹480, super palmolein ₹505, soyabean refined oil ₹595 and sunflower oil ₹635.
In Saurashtra-Rajkot, groundnut oil Telia tin declined by ₹10 to ₹1,330 and loose (10 kg) dropped by ₹10 to ₹850.
BCE spot rates (₹/10 kg): groundnut oil 845 (840), soya refined oil 585 (575), sunflower exp. ref. 560 (560), sunflower ref. 625 (625), rapeseed ref. oil 730 (725), rapeseed expeller ref. 700 (695), cottonseed ref. oil 571 (560) and palmolein 479 (480).
In Saurashtra-Rajkot, groundnut oil Telia tin declined by ₹10 to ₹1,330 and loose (10 kg) dropped by ₹10 to ₹850.
BCE spot rates (₹/10 kg): groundnut oil 845 (840), soya refined oil 585 (575), sunflower exp. ref. 560 (560), sunflower ref. 625 (625), rapeseed ref. oil 730 (725), rapeseed expeller ref. 700 (695), cottonseed ref. oil 571 (560) and palmolein 479 (480).