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MARKET DEVELOPMENT
Bearish Cues Drag Edible Oils
calendar20-03-2015 | linkHindu Business Line | Share This Post:

20/03/2015 (Hindu Business Line) - The edible oils market in Mumbai witnessed dull trading for the second consecutive day following slack demand and sharp decline in Malaysian palm oil futures. Palmolein dropped by ₹1/10 kg, while other edible oils ruled steady on the Bombay Commodity Exchange. Liberty was quoting palmolein at ₹500, super palmolein ₹520 and soyabean refined oil ₹580. Ruchi traded palmolein for ₹498, soyabean refined oil ₹573 and sunflower refined oil ₹625. Allana’s rates: palmolein ₹500, super palmolein ₹530, soyabean refined oil ₹575 and sunflower oil ₹630.

In Saurashtra-Rajkot, groundnut oil Telia tin declined to ₹1,540 (1,550) and loose (10 kg) at ₹985 (1,000).

BCE spot rates (₹/10 kg): groundnut oil 950 (950), soya refined oil 575 (575), sunflower exp. ref. 575 (575), sunflower ref. 625 (625), rapeseed ref. oil 695 (695), rapeseed expeller ref. 665 (665), cottonseed ref. oil 568 (568) and palmolein 492 (493).