Mumbai, May 23:  

Edible oils market turned weak on Tuesday tracking bearish futures amid lack of fresh demand.

Activities in physical market remained very little and isolated. During the day hardly 100-150 tonnes of palmolein resold at ₹563-570. At Rajkot, groundnut oil Telia tin up at ₹1,510 (₹1,520) and Loose (10 kg) at ₹955 ( ₹965). On National Commodities and Derivatives ExchangeSoyabean refined oil June -17 futures declined to ₹636.50 ( ₹639.55) and June-17 dropped to ₹638.20 ( ₹641.65). Malaysian crude palm oil June-17 futures settled lower at MYR 2,877 (MYR 2,900) and July-17 ended at MYR2,740 (MYR 2,781). On The Bombay Commodity Exchange spot rates (₹/10 kg) were: groundnut oil 1,020 (1,020), soya refined oil 635 (630), sunflower exp. ref. 595 (590), sunflower ref. 662 (662), rapeseed ref. oil 740 (740), rapeseed expeller ref. 710 (710), cottonseed ref. oil 642 (640) and Palmolein 566 (568).

(This article was published on May 23, 2017)
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