Edible oils ruled flat amidst thin volume on Tuesday. Barring imported palmolein which inched up by Re 1, all other edible oils ruled unchanged or weak.
Soyabean refined oil, groundnut oil, sunflower oil and rapeseed oil were steady, while cotton refined oil dropped by Rs 5 for 10 kg on improved arrivals of new crops at producing centres.
The volume remained subdued as stockists preferred fulfilling “higher priced” old commitments – purchases made well in advance and avoid new purchases. Merely 100-150 tonnes of palmolein were traded during the day in the range of Rs 515-517. Towards the day’s close, Liberty was quoting palmolein at Rs 517-520 and super palmolein Rs 578, soya refined oil Rs 658. Ruchi quoted palmolein at Rs 515 for Oct 20-Nov 15 and Rs 510 for Nov 15-30, super palmolein Rs 576 for Oct 20-Nov 15 and Rs 571 for Nov 15-30. Soya refined oil was at Rs 655 for Oct-Nov and sunflower refined oil was Rs 700. Allana’s rates were Rs 515 for palmolein and Rs 575 for super palmolein.
Malaysia's crude palm oil November futures settled at MYR 2,397 (2,407), December closed MYR 2,435 (2,433) and January at MYR 2,466 (2,470) a tonne. The Bombay Commodity Exchange spot rates were (Rs/10 kg): groundnut oil 1,130 (1,130), soya refined oil 655 (655), sunflower exp. ref. 645 (645), sunflower ref. 700 (700), rapeseed ref. oil 830 (830), rapeseed expeller ref. 800 (800) cotton ref. oil 660(665) and palmolein 516 (515).