Higher import duty lifts oils

With further increase in import duty on palm oil from March 1 this year, the price difference between palm, soya and cotton oils narrowed down sharply with palm oil quoted at ₹770 per 10 kg. Soya refined ruled at ₹764-65, while soya solvent was at ₹730-35. Cotton oil (Indore) was at ₹755, while groundnut oil went for ₹880-910. Despite weak global cues and slack demand, majority of oils in Indore mandis have been ruling on the higher side. Mustard seeds went for ₹3,950-₹4,000 a quintal, while raida ruled at ₹3,400.