Edible oils ruled weak on back of bearish futures amid lack of physical demand. Stockists stayed away from fresh bets. Majority of traders preferred to fulfil old commitments. On the BCE, groundnut and cotton oil dropped by ₹10 and ₹1 per 10 kg each. Palmolein and soya oil lost ₹3 and ₹5 each. Liberty’s rates: palmolein ₹624, super palmolein ₹645 and soyabean refined oil ₹690. Ruchi traded soyabean refined oil for ₹692.5, sunflower oil ₹697.50. At Rajkot, groundnut oil telia tin was flat at ₹1,460 and loose (10 kg) at ₹930. BCE spot rates (₹/10 kg): groundnut oil 970 (980), soya ref. 685 (690), sunflower exp. ref. 645 (645), sunflower ref. 700 (700), rapeseed ref. 790 (790), rapeseed exp. ref. 760 (760), cottonseed ref. 692 (693) and palmolein 612 (615).

(This article was published on February 16, 2017)
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