Edible oils futures pared losses on Wednesday on fears rains could delay arrivals of kharif oilseeds. However, prices in the spot market were mixed on bets that arrivals of the crop will be higher.
Groundnut, soyabean and washed cottonseed oils rule unchanged. Sunflower and palmolein declined by Rs 5 and Rs 3 respectively. Rapeseed oil prices increased by Rs 5.
The domestic futures market opened weak but firmed up later on fears of delay in arrivals of oilseeds in main producing centres of Madhya Pradesh, Maharashtra and Gujarat. During the day, local refineries sold about 600-700 tonnes of palmolein at Rs 567-568 and 500-600 tonnes of refined soyabean oil at Rs 637.
Towards the end of the day, Liberty quoted palmolein at Rs 568, super palmolein at Rs 605 and super deluxe at Rs 625, soyabean refined oil at Rs 640 and sunflower refined oil at Rs 815.
Ruchi quoted palmolein at Rs 568-571, sunflower refined oil at Rs 640 and sunflower refined oil at Rs 800. In Rajkot, groundnut oil rule unchanged for the third consecutive day at Rs 1285 for telia tin. Loose (10 kgs) ruled at Rs 825. Crude palm oil October contracts on Bursa Malaysia Derivatives Exchane settled higher at MYR 2,324. November ended at MYR 2,299 (MYR 2,306) and December at MYR 2,294 (MYR 2,301).
The Bombay Commodity Exchange spot rates (Rs/10 kg) were : Groundnut oil 840 (840), Soya refined oil 635 (635), Sunflower exp. ref. 725 (740), Sunflower refined 795 (800), rapeseed refined oil 710 (705), rapeseed expeller refined 680 (675) cottonseed refined oil 660 (660) and palmolein 567 (570).
Vikram Global Commodities (P) Ltd quoted Rs 617 for 10 kg of Malaysia Super palmolein to be delivered in October.