Soyabean oil, sunflower oil and cotton refined oil ruled steady on Thursday on lack of demand.
Groundnut oil firmed up and erased the previous day’s loss of Rs 10 for 10 kg despite weak reports from Saurashtra where a 15-kg telia tin declined by Rs 15. Palmolein and rapeseed oil corrected from lower level by Rs 1 and Rs 3 for 10 kg. Rapeseed oil declined by Rs 48 in the last eight days on improved prospects of rabi crops after recent rain.
Shailesh Kataria, a leading broker, said in the absence of ready demand, volumes remained dull and need-based.
About 350–400 tonnes of palmolein were traded for forward delivery. Besides that, there were no activities in the other edible oils. Indigenous edible oils were under pressure on weak reports from producing centres. At close, Liberty was quoting palmolein at Rs 600-601; super palmolein Rs 640, soya oil Rs 770 and sunflower refined oil Rs 790.
Ruchi quoted palmolein Rs 598, super palmolein Rs 638, soya refined oil Rs 768 and sunflower refined oil Rs 785-788. Allana’s rate for palmolein was Rs 599. In Saurashtra – Rajkot, groundnut oil was Rs 1,840 (Rs 1,855) for Telia tin and Rs 1,200 (Rs 1,200) for loose 10 kg.
On the National Board of Trade – Indore, soya refined oil Oct was up at Rs 780 (Rs 775.80). Malaysia's crude palm oil Oct contracts closed lower at MYR 2,855 (2,879); Nov closed at MYR 2,912 (2,930) and Dec at MYR 2,955 (2,968) a tonne.
The Bombay Commodity Exchange spot rates were (Rs/10 kg): Groundnut oil 1,200 (1,190), soya refined oil 765 (765), sunflower exp. ref. 730 (730), sunflower ref. 785 (785), rapeseed ref. oil 845 (842), rapeseed exp ref. 815 (812) cotton ref. oil 750 (750) and palmolein 598 (597).