Bearish cues drag edible oils down

Our Corresponden

Mumbai, August 2

Edible oils market ruled weak on Friday tracking bearish futures amid slack demand. On the BCE, cotton and rapeseed oil gained ₹10 and ₹5 per 10 kg each. All other edible oils were steady. Stockists preferred to stay away from fresh buys. During the day, hardly 150-200 tonnes of palmolein were resold at ₹664-667. At Rajkot, groundnut oil telia tin increased to ₹1,440 (₹1,420) and loose (10 kg) was at ₹900 (₹890). BCE spot rates (₹/10 kg): groundnut oil 920 (920), soya ref. 750 (750), sunflower exp. ref. 750 (750), sunflower ref. 790 (790), rapeseed ref. 905 (900), rapeseed exp. ref. 875 (870), cottonseed ref. 820 (810) and palmolein 668 (670).

Published on August 02, 2018

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