MARKET DEVELOPMENT
Imported Oils Gain on Global Cues
Imported Oils Gain on Global Cues
11/03/2016 (Hindu Business Line) - Despite bearish futures, imported palmolein and soya oil rose by ₹5 each on the BCE tracking a 56.5 per cent jump in Malaysian palm oil exports and higher domestic demand. Local refineries increased the rates for soya oil by ₹2-4. Liberty was quoting palmolein at ₹550, super palmolein ₹569, soyabean refined oil ₹615. Ruchi’s rates: palmolein ₹548, soyabean refined oil ₹610 and sunflower refined oil ₹745. Allana traded palmolein for ₹553, soya refined oil ₹625, sunflower refined ₹760. BCE spot rates (₹/10 kg): groundnut oil 930 (930), soya ref. 610 (605), sunflower exp. ref. 675 (675), sunflower ref. 745 (745), rapeseed ref. 750 (765), rapeseed exp. ref. 720 (735), cottonseed ref. 605 (604) and palmolein 543 (538).