A rebound in Malaysian palm oil futures lifted palmolein and soya oil prices in domestic market on Friday.

Stockists covered about 2,800-3,000 tonnes of palmolein during the day considering the low price compared with other oils.

In spot, palmolein inched up by Re1 and rapeseed oil rose by Rs 5. Indigenous edible oils ruled steady. Morale was positive, said traders.

During the day Ruchi sold 1,400-1,500 tonnes of palmolein at Rs 475. Liberty sold about 450-500 tonnes of palmolein at Rs 478-480 and 200-250 tonnes super palmolein at Rs 535.

Allana sold about 100-120 tonnes of palmolein at Rs 473-475. Resellers offloaded 350-400 tonnes of palmolein at Rs 470-472 ex-JNPT in ready.

At Saurashtra – Rajkot, groundnut oil ruled flat at Rs 1,950 for telia tin and Rs 1,270 for loose (10 kg).

Towards the day’s close, Liberty was quoting palmolein at Rs 478-480, super palmolein at Rs 535, soya refined oil Rs 684 and sunflower refined oil at Rs 785.

Ruchi quoted palmolein at Rs 475, soyabean refined oil at Rs 681, sunflower refined oil Rs 780.

Allana was offering palmolein at Rs 475 and super palmolein at Rs 535.

On the National Commodities and Derivatives Exchange, soyabean refined oil’s January contracts jumped to Rs 707.75 (Rs 699.60), February at Rs 697.80 (Rs 688.95) and March was Rs 692.90 (Rs 684.60).

Malaysia’s crude palm oil’s January contracts settled higher at MYR 2,195 (MYR 2,142), February MYR 2,276 (MYR 2,230) and March MYR 2,346 (MYR 2,303) a tonne.

The Bombay Commodity Exchange spot rates (Rs/10 kg): groundnut oil 1,250 (1,250), soya refined oil 680 (680), sunflower exp. ref. 710 (710), sunflower ref. 780 (780), rapeseed ref. oil 815 (810), rapeseed expeller ref. 785 (780) cottonseed ref. oil 610 (618) and palmolein 473 (472).

Vikram Global Commodities has offered Malaysian super palmolein at Rs 554 for 10 kg ex-chennai.

Related Topics