Groundnut oil rose by Rs 5 for 10 kg, tracking firm Saurashtra market on Friday. Palmolein and sunflower oil ruled steady, while soyabean and rapeseed oils dropped by Rs 10 each. Cotton refined oil declined by Rs 2.
Higher arrivals of new oilseeds crops in producing centres and cautious buying mood ahead of the Budget weighed on overall sentiment, said sources. About 1,500-1,600 tonnes of palmolein changed hands during the day.
In physical market, soyabean refined oil dropped by Rs 10 as a leading refinery reduced the price. In the futures market, soyabean oil futures jumped by Rs 4 supported by thin supplies.
Sources said that 100-150 tonnes palmolein were resale traded at Rs 516-518. Ruchi sold 600-700 tonnes at Rs 525 and Liberty sold 700-800 tonnes at Rs 523-527. Liberty quoted at Rs 525-527 till March.
Super palmolein was quoted at Rs 565 and sunflower refined oil Rs 800. Ruchi quoted palmolein at Rs 526, soyabean refined oil at Rs 690 and sunflower refined oil Rs 790. Allana’s quoted super palmolein at Rs 560. In Saurashtra-Rajkot, groundnut oil was higher by Rs 5 to Rs 1,945 (Rs 1,940) for telia tin and Rs 1,265 (Rs 1,260) for 10 kg.
On the National Commodities and Derivatives Exchange, soyabean refined oil’s March futures were higher at Rs 704.55 (Rs 700.85); April was Rs 699.75 (Rs 694.85) and May was at Rs 700.95 (Rs 695.90).
Malaysia’s crude palm oil’s March futures contracts settled lower at MYR 2,478 (MYR 2,481); April at MYR 2,509 (MYR 2,513) and May at MYR 2,534 (MYR 2,536) a tonne.
The Bombay Commodity Exchange spot rates (Rs/10 kg): Groundnut oil 1,245 (1,240), soya refined oil 690 (700), sunflower exp. ref. 715 (720), sunflower ref. 790 (790), rapeseed ref. oil 770 (780), rapeseed expeller ref. 740 (750) cottonseed ref. oil 617 (619) and palmolein 518 (518).
Vikram Global Commodities, Chennai, has quoted Rs 570 for Malaysian super palmolein.