Barring palmolein and cotton refined oil that ruled steady, all other edible oils declined by Rs 5-15 for 10 kg on Tuesday on due to slack demand that usually exists during the month-end.

Soya oil futures rose in the domestic market, tracking a rebound in the Malaysian palm oil futures that closed higher.

Observer said that the Malaysian market palm oil drew support from bargain-hunting, short covering activities after tumbling to a 4-month low the previous day on sluggish exports and bearish external factors. Overall, the sentiment is still volatile especially on the macroeconomic front”.

Sources said that demand remained subdued. During the day about 150-200 tonnes of -palmolein were traded in resale in the range of Rs 507-508. Refineries quoted higher rates.

Arrivals of soyabean and rapeseed in producing declined due to Mahavir Jayanti . At the close of the day, Liberty quoted palmolein at Rs 510-513, super palmolein at Rs 545 and sunflower refined oil at Rs 770. Ruchi quoted palmolein at Rs 512 ex-Patalganga and Rs 510 ex-JNPT, soyabean refined oil at Rs 665 and sunflower refined oil at Rs 760. Allana quoted super palmolein at Rs 545.

In Saurashtra –Rajkot groundnut oil was quoted at Rs 1,910 (Rs 1,910) for telia tin and Rs1,240 (Rs 1,240) for loose 10 kg.

On Bursa Malaysia Derivatives Exchange , crude palm oil May contracts settled higher at MYR 2,265 (MYR 2,245), June at MYR 2,276 (MYR 2,252) and July at MYR 2,273 (MYR 2,255) a tonne.

The Bombay Commodity Exchange spot rates (Rs/10 kg) were: Groundnut oil 1,210 (1,215), soya refined oil 665 (675), sunflower exp. ref. 680 (685), sunflower ref. 765 (770), rapeseed ref. oil 690 (705), rapeseed expeller ref. 660 (675) cottonseed ref. oil 645(645) and palmolein 508 (508).

Vikram Global Commodities, Chennai, has quoted Malaysian super palmolein at Rs 543 ex-Chennai; $902 CIF JNPT for May delivery and $905 CIF Haldia for May delivery.

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