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Cooking oils firm up on positive cues

Cooking oils firm up on positive cues

AUGUST 7 2018


Improved demand and extended gains in foreign markets kept the sentiment in domestic edible oils market firm on Tuesday. Malaysian palm oil and Chicago soya oil futures were firm lifting soya oil on the NCDEX by 4-5 per 10 kg till evening.


On the BCE, palmolein rose by 1 and groundnut oil jumped by 20, while soya and rapeseed oil declined by 5 per 10 kg each. Rebound in rupee encouraged stockists to go for fresh bets as refineries offered lower rates. During the day about 2,800-3,000 tonnes of palmolein and soya oil were bought by traders.


Sources said tracking currency and foreign markets local refineries kept their rates steady. During the day Liberty sold about 500 tonnes of palmolein at 665-667; Golden agri sold about 1,000 tonnes palmolein at 664-667; Allana sold about 600 tonnes of palmolein at 665 and 500 tonnes of soyabean refined oil at 745.


Liberty: Palmolein ex Jnpt 685, Ex STC 685; sunflower refined oil 820. Allana: Palmolein ex Khopoli 680; soyabean refined oil 760 and sunflower refined oil 815. Ruchi: ex Patalganga soya refined oil 748 and sunflower refi. oil 790. Golden agri: Palmolein ex JNPT 665 and ex STC 667.


At Rajkot, groundnut oil telia tin was up 10 to 1,460 and loose (10 kg) at 920 (910).


BCE spot rates (/10 kg): groundnut oil 940 (920), soya ref. oil 740 (745), sunflower exp. ref. 745 (740), sunflower ref. 790 (790), rapeseed ref. 900 (905), rapeseed exp. ref. 870 (875), cottonseed ref. 815 (817) and palmolein 665 (664).



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