21/01/2015 (Hindu Business Line) - The bearish trend continued in the edible oils market on Tuesday with losses extending in the futures market amid poor physical demand. On the Bombay Commodity Exchange, major edible oils declined by ₹5-₹10 for 10 kg. Local refineries reduced their rates for palm oil and soya oil by ₹8-₹10 due to slow demand.

Sources said in absence of active buying due to poor retail demand in the spot, weekly delivery remained lower but stockists have bought higher quantity for forward delivery. Resellers offloaded 150-200 tonnes of palmolein at ₹503-505. During trading hours refineries managed to sell about 1,300-1,400 tonnes of palmolein at ₹507-512 for forward delivery. Vikram global commodities quoted ₹.545 for Malaysian super palm for January delivery‪. At the end of the day Liberty was quoting palmolein at ₹505-507 and Super palmolein at ₹527 for February 15.

Ruchi quoted palmolein ₹508 for January, ₹510 for February and ₹512 for March. Soyabean refined oil was at ₹650 for Tuesday and February. Sunflower refined oil ₹655.

Allana was quoting palmolein at ₹510 for January end and ₹511 for February, Soyabean refined oil ₹650 for February, sunflower oil ₹665 for February.

In Saurashtra – Rajkot Groundnut oil Telia tin was ₹1,580 (₹ 1580) and Loose (10 kg) was at ₹1010.

On the Bombay Commodity Exchange spot rates (₹/10 kg) were: groundnut oil ₹1,010 (₹1020), soya refined oil ₹650 (₹660), sunflower exp. ref. ₹620 (₹620), sunflower ref. ₹655 (₹670), rapeseed ref. oil ₹780 (₹785), rapeseed expeller ref. ₹750 (₹755) cottonseed ref. oil ₹585 (₹590) and palmolein ₹505 (₹512).