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Byline: Our Correspondent
Bullishness continued in edible oil market, tracking extended gains in palm oil and soya oil futures abroad. Imported palmolein and soya oil extended gains by Rs 14 and Rs 8 for 10-kg respectively.
Palmolein crossed the Rs 600-mark in domestic market again after gaining Rs 19 in the last four days. Malaysian CPO futures hit a near 3-week high on Wednesday as hot and dry weather in the US threatened to curb the soya crop. Groundnut oil rose by Rs 10, cotton refined oil increased by Rs 11 and sunflower oil was up by Rs 5 in line with palm oil futures. Volume eased at higher price levels and most traders have covered heavily in last two days. …