Stable to weak condition in overseas palm and soya oil markets kept domestic edible oils steady on Wednesday. In Mumbai despite improve activities prices for most edible oils rule unchanged. Palmolein declined by Rs2.

In absence of rain in most producing states, rising worry about ongoing Kharif crop sowing. Further from August festivals season will start in India and demand for edible oils will rise. All this factors will lead the market trend. However till now domestic and overseas supply remained enough and prices under check said leading broker.

Sources said during the day about 1,700 tonnes palmolein at ₹530-531 and about 500 tonnes soyabean refined oil at ₹635 were bought by stockiest for ready and July. Demand for cotton, groundnut and sunflower remained thin and isolated. Liberty’s rates for Palmolein Ex STC/Shapur were ₹537/538 for 30 July and Super palmolein ₹558 for 30July. Allana’s ratesfor Palmolein were ex Khapoli / IVP ₹540 /543 for July. Soya refined oil ₹645 for July. Sunflower refined oil ₹665 for July. Golden Agri’s rate for palmolein was ₹530 for July. Emami quoted palmolein at 530 for 15-31 July. At Rajkot, groundnut oil was ₹1,410 (1,410) for Telia tin and for Loose (10 kg) was ₹880 (890). Malaysian crude palm oil July -17 futures closed lower at MYR 2,680 (MYR 2,687) and August -17 was MYR2,628 (MYR 2,628). On National Commodities and Derivatives Exchange Soyabean refined oil July -17 futures was ₹643.50 (642.65) and Aug-17 was at ₹648.75 (645.80). On The Bombay Commodity Exchange spot rates (₹/10 kg) were: groundnut oil 940 (940), soya refined oil 635 (635), sunflower exp. ref. 600 (600), sunflower ref. 660 (660), rapeseed ref. oil 740 (740), rapeseed expeller ref. 710 (710), cottonseed ref. oil 670 (670) and Palmolein 532 (534).