Imported palmolein ruled unchanged on third consecutive day while soyabean refined oil lost Rs 5 for 10 kg. But in domestic futures market, soya oil rose by more than Rs 5 tracking firm Malaysian palm oil futures and reduced arrivals in producing centre – Madhya Pradesh. Rapeseed and cotton refined oil declined by Rs 2 and Re 1 each. Groundnut and sunflower oil were steady.
Sentiment was positive on expectation of possible lower palm oil stocks in Malaysia and higher demand may push up price higher, said observer.
In Mumbai, Liberty sold about 1,400-1,500 tonnes of palmolein at Rs 500-504 for delivery up to May. Ruchi sold 350-400 tonnes of soyabean refined oil at Rs 660-662 and then raised price by Rs 2 to Rs 664. It also sold 100-150 tonnes palmolein at Rs 498 for ready and weekly delivery. Importers were quite as their rates were higher, said broker.
Towards the day’s close, Liberty was quoting palmolein at Rs 500-504, super palmolein Rs 540 and sunflower refined oil Rs 780. Ruchi was quoting palmolein at Rs 508 ex-Patalganga and Rs 498 ex-JNPT, soyabean refined oil Rs 664 and Rs 780 for sunflower refined oil. In Saurashtra – Rajkot, groundnut oil rose by Rs 5 to Rs 1,730 for
Malaysian BMD crude palm oil ’s June contracts ended higher at MYR 2,283 (MYR 2,258), July at MYR 2,289 (MYR 2,260) and August at MYR 2,286 (MYR 2,256) a tonne.
The Bombay Commodity Exchange spot rates (Rs/10 kg): groundnut oil 1,130 (1,130), soya refined oil 660 (665), sunflower exp. ref. 685 (685), sunflower ref. 765 (765), rapeseed ref. oil 675 (677), rapeseed expeller ref. 645 (647) cottonseed ref. oil 637 (638) and palmolein 500 (500).
Vikram Global Commodities, Chennai has quoted Malaysian super palmolein at Rs 550 ex-Chennai.