On Tuesday (08 May 2012), the prices of groundnut oil dropped by Rs 10, soya refined oil declined by Rs 3, sunflower oil dropped by Rs 5 while cotton and palmolein eased by Re 1 each in local market. Stockists preferred to keep away from building edible oil inventories in view of a firm dollar. The weakness in Indian rupee makes import costlier.
On the Bombay Commodity Exchange, the spot rates were (Rs/10 kg): groundnut oil 1,210 (1,220), soya refined oil 715 (718), sunflower exp. ref. 665 (670), sunflower ref. 740 (740), rapeseed ref. oil 815 (815), rapeseed expeller ref. 785 (785) cotton ref. oil 695 (696) and palmolein 655 (656).
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