Mumbai, May 26:
Edible oils
continued to be bearish on Monday, tracking weak futures markets amid
slack physical demand. Extended loss in Malaysian palm oil futures led
local refineries to cut their rates by ₹5-7 for 10 kg.
On
the Bombay Commodity Exchange, imported palmolein and soya refined oil
declined by ₹3 and ₹5 each. Sunflower oil and cotton refined oil
declined by ₹5 and ₹2 each. Groundnut oil ruled steady while rapeseed
oil was up ₹1.
During the day about 900-1,000 tonnes
of palmolein were sold at ₹570-573 by local refineries and by
resellers. Vikram Global Commodities (P) Ltd, Chennai, quoted ₹610/10 kg
for Malaysian super palmolein – June delivery. Liberty was quoting
palmolein at ₹573, super palmolein ₹588 and soyabean refined oil ₹665.
Ruchi was quoting palmolein at ₹573. Allana was quoting palmolein at
₹575/578 ex JNPT/Khapoli, soyabean refined oil ₹667 and sunflower
refined oil ₹670. Resellers were offering palmolein at ₹570 ex JNPT.
In Saurashtra, groundnut oil Telia
tin was steady at ₹1,115 and loose (10 kg) was ₹710 (₹710). Malaysia
BMD crude palm oil’s June settled lower at MYR 2,520 (MYR 2,541) and
July MYR 2,514 (MYR 2,525) and August MYR 2,509 (MYR 2,517).
BCE
spot rates (₹/10 kg): groundnut oil 750 (750), soya refined oil 660
(665), sunflower exp. ref. 590 (595), sunflower ref. 665 (670), rapeseed
ref. oil 681 (680), rapeseed expeller ref. 651 (650) cottonseed ref.
oil 650 (652) and palmolein 572 (575).
(This article was published on May 26, 2014)
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