Activities in edible oils markets were calm on Tuesday, tracking bearish futures market. As the fiscal year end approaches, stockists prefer to bet for April and keep away from nearby buying. The overall volume was thin. In the absence of active demand palmolein, rapeseed and cotton refined oil declined in the range of Re 1-Rs 3. Groundnut oil dropped by Rs 5 tracking a fall of Rs 25 in telia tin in Rajkot. Firmness in the Malaysian palm oil futures failed to lift the sentiment here as most wholesalers preferred to fulfil old commitments.
In local market during the day activities remained dull on slack demand. Importers offloaded 550-600 tonnes of palmolein at Rs 500 for delivery between April 20 and May 10. About 150-200 tonnes of palmolein were traded at Rs 502 for nearby delivery. Indigenous oils were under pressure of higher arrivals of seeds. Mustard seeds arrivals were 5.50 lakh bags and prices were Rs 3,150-3,450 at spot level. Towards the day’s close, Liberty was quoting palmolein at Rs 511 ex-Shahpur and Rs 508 ex-JNPT. Super palmolein was Rs 550 and sunflower refined oil Rs 780. Ruchi was quoting palmolein at Rs 510 Patalganga and Rs 507 ex-JNPT, soyabean refined oil Rs 641and sunflower refined oil Rs 771. Allana quoted super palmolein at Rs 545. In Saurashtra-Rajkot, groundnut oil declined further to Rs 1,835 (Rs 1,860) for telia tin and Rs 1,200 (Rs 1,210) for loose (10 kg).
On the NCDEX, soyabean refined oil’s April futures dropped to Rs 668.90 (Rs 671.40), May closed lower to Rs 662 (Rs 664.10) and May was Rs 660.95 (Rs 662.20).
The Bombay Commodity Exchange spot rates (Rs/10 kg): groundnut oil 1,205 (1,210), soya refined oil 640 (640), sunflower exp. ref. 685 (685), sunflower ref. 770 (770), rapeseed ref. oil 695 (697), rapeseed expeller ref. 665 (667) cottonseed ref. oil 605 (608) and palmolein 504 (505).
Vikram Global Commodities, Chennai, has quoted Malaysian super palmolein at Rs.555 ex-Chennai for April delivery.