Edible oils ruled firm on Tuesday tracking extended gains in the futures market. On the Bombay Commodity Exchange (BCE), palmolein and groundnut oil increased by ₹7 and ₹10 for 10 kg each. Rapeseed oil rose by ₹1. Soyabean, sunflower and cotton refined oil ruled unchanged. The volume remained comparatively low as stockists have covered enough palmolein previous day .

Sources said that local demand remained usual and routine for ready delivery. During the day, about 200-250 tonnes of palmolein were resold at ₹602 ex-JNPT and ₹606 Mumbai. Besides, Ruchi sold about 80-100 tonnes of sunflower oil at ₹662. As stockists bought about 1,500 tonnes of palmolein the previous day at ₹603 from Liberty, they kept away. As the pipeline is empty now, activities and price trend may remain positive.”

Liberty was quoting palmolein at ₹610, super palmolein ₹630 and soyabean refined oil ₹655 for May. Ruchi quoted palmolein at ₹610 for April-May, soyabean refined oil ₹655 for May and sunflower refined oil ₹665 for May 10. Allana was quoting palmolein at ₹608 for April-May, soyabean refined oil ₹657 for May 15- 31 and sunflower refined oil ₹665 for April.

At Rajkot, groundnut oil telia tin ruled steady at ₹1,110 and loose (10 kg) at ₹695.

Malaysia BMD crude palm oil’s April contracts settled higher at MYR 2,680 (MYR 2,670), May at MYR 2,692 (MYR 2,667) and June MYR 2,663 (MYR 2,635).

BCE spot rates (₹/10 kg): groundnut oil 740 (730), soya refined oil 652 (652), sunflower exp. ref. 605 (605), sunflower ref. 665 (665), rapeseed ref. oil 673 (672), rapeseed expeller ref. 643 (642) cottonseed ref. oil 655 (655) and palmolein 605 (598).

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