Edible oils ruled weak on Thursday tracking bearish overseas futures amidst absence of any firm demand. Stockists stayed away from fresh bulk purchases on account of approaching year-end and were busy fulfilling old commitments. During the day hardly 80 to 100 tons of palmolein was resold at Rs 572 – Rs 577 in isolated trades, barring which there was no trading activity. On BCE groundnut and rapeseed oil rose by Rs 10 each. Cotton and palmolein declined by Rs 3 and Rs 1. Soya and sunflower oil rule unchanged. Malaysian palm oil futures close lower but domestic NCDEX soya oil futures was up by Rs3 till evening.

(This article was published on March 23, 2017)
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