Imported palmolein and soyabean refined oil increased by Rs 2 for 10 kg each while rapeseed/mustard oil gained Rs 3 tracking firm Malaysian palm oil futures.
Volumes in other oils remained subdued due to slack month-end demand.
Groundnut oil declined by Rs 5 taking a total loss of Rs 80 this month.
Shailesh Kataria of Riddhi Broker said, “Weak Indian currency made import parity costly and extended gain in Malaysian palm oil futures. It also kept the sentiment firm in the domestic market. Overall, sentiment will remain positive in the coming festival and marriage season on expectation of higher demand.”
In Mumbai, Ruchi sold about 750-800 tonnes of soyabean refined oil at Rs 664-665 and then quoting Rs 666. It sold some quantity of palmolein at Rs 505 ex-JNPT.
Resellers offloaded 250-300 tonnes of palmolein at Rs 503-505.
Soyabean arrivals in Madhya Pradesh declined to 35,000 bags and its prices were Rs 3,950-3960 ex-mandi and Rs 4,050-4,060 plant delivery.
Mustard seed arrivals dropped to 2.70 lakh bags and the prices were Rs 3,080-3,600 in producing areas.
Towards the day’s close, Liberty was quoting palmolein at Rs 512-516, super palmolein Rs 545 and sunflower refined oil Rs 780.
Ruchi was quoting palmolein at Rs 517 for ex-Patalganga and Rs 505 ex-JNPT.
Soyabean refined oil Rs 666 and sunflower refined oil Rs 758.
In Saurashtra – Rajkot groundnut oil was at Rs 1,640 (Rs 1,670) for telia tin and Rs 1,060 (Rs 1,080) for loose (10 kg).
Malaysian BMD crude palm oil ’s June contracts settled higher at MYR 2,328 (MYR 2,316), July at MYR 2,362 (MYR 2,341) and August at MYR 2,359 (MYR 2,335) a tonne.
The Bombay Commodity Exchange spot rates were (Rs/10 kg): groundnut oil 1,110 (1,115), soya refined oil 664 (662), sunflower exp. ref. 675 (675), sunflower ref. 760 (760), rapeseed ref. oil 700 (697), rapeseed expeller ref. 670 (667) cottonseed ref. oil 642 (642) and palmolein 505 (503).