Edible oils gain on global cues

Edible oils prices increased in the domestic market on Tuesday tracking positive reports from producing centres and firm futures markets.

In Mumbai, groundnut oil rose by Rs 10, soyabean and sunflower oils by Rs 5 each. Palmolein inched up by Rs 2 for 10 kg.

In direct trade, Liberty sold about 250-300 tonnes of super palmolein at Rs 562, said a leading broker. In Saurashtra – Rajkot, improved demand from groundnut oil shot up by Rs 25 to Rs 1,975 (Rs 1,950) for

telia tin and by Rs 15 to Rs 1,290 (Rs 1,275) for loose (10 kg). Liberty quoted palmolein at Rs 517-519 for Jan and Rs 527-529 for Feb. Super palmolein Rs 562; soya refined oil Rs 700; sunflower refined oil Rs 790; Ruchi palmolein Rs 515 for Jan and Rs 525 for Feb 1-25; soyabean refined oil at Rs 695 till Feb 10 and Rs 698 for Feb 10-20; sunflower refined oil Rs 785; Allana’s rates were Rs 512 and super palmolein Rs 562.

On the National Commodities and Derivatives Exchange , soyabean refined oil’s February futures closed higher at Rs 709.20 (Rs 706.15); March was up at Rs 688.25 (Rs 685.75); April Rs 677.80 (Rs 677.25). Malaysia’s crude palm oil’s Feb contracts settled higher at MYR 2,375 (MYR 2,340), March MYR 2,398 (MYR 2,372) and April MYR2,415 (MYR 2,395) a tonne.

The Bombay Commodity Exchange spot rates (Rs/10 kg): Groundnut oil 1,275 (1,265); soya refined oil 695 (690); sunflower exp. ref. 715 (710); sunflower ref. 790 (785); rapeseed ref. oil 808 (810); rapeseed expeller ref. 778 (780); cottonseed ref. oil 620 (620) and palmolein 502 (500).

Vikram Global Commodities, Chennai quoted 571 for 10 kg for Malaysian super palmolein.