Firm Malaysian palm oil futures lifted imported palmolein and soyabean refined oil by ₹1 and ₹3/10 kg each in Mumbai on Wednesday. All other edible oils ruled steady on lack of demand. The volume was thin and isolated in resale as local refineries rates were higher. Morale was slightly positive tracking a rebound in futures markets, said an observer.

A Mumbai-based broker said: “Despite the start of new month, local demand remained lower than expected. During the day, hardly 100-150 tonnes of palmolein were traded in resale. Indigenous edible oils were under pressure on prospects of higher Rabi crops. With new arrivals of rapeseed-mustard seeds, market players expect farmers to release their stocks of other oilseeds soon. This will put more pressure on the market.”

Towards the day’s close, Liberty was quoting palmolein at ₹585, super palmolein at ₹605, super deluxe palmolein at ₹625 and soyabean refined oil at ₹655. Ruchi quoted palmolein at ₹585, soyabean refined oil at ₹650 and sunflower refined oil at ₹663.

Allana was quoting palmolein at ₹582, soyabean refined oil ₹650 and sunflower refined oil ₹670.

At Rajkot, groundnut oil was up by ₹10 to ₹1,175 for telia tin and loose (10 kg) ruled steady at ₹750.Vikram Global Commodities (P) Ltd quoted ₹610/10 kg for Malaysia super palmolein February delivery.

Malaysia BMD crude palm oil’s February contracts settled higher at MYR 2,540 (MYR 2,521), March at MYR 2,542 (MYR 2,527) and April at MYR 2,546 (MYR 2,529).

The Bombay Commodity Exchange spot rates (Rs/10 kg) were: groundnut oil 760 (760), soya refined oil 648 (645), sunflower exp. ref. 605 (605), sunflower ref. 663 (662), rapeseed ref. oil 693 (693), rapeseed expeller ref. 663 (663) cottonseed ref. oil 620 (620) and palmolein 575 (574).

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