Edible oils prices ruled unchanged on hand-to-mouth demand despite firm futures market on Wednesday. Imported palmolein, cotton refined oil, sunflower oil and groundnut oil ruled steady. Soyabean refined oil dropped by Rs 3 and rapeseed – mustard oil declined by Rs 5 tracking decline in futures.

About 350-400 tonnes of palmolein were resale traded in the range of Rs 623-627 in advanced and CAD payment condition. Ruchi sold about 350- 400 tonnes at Rs 627-630 for August – September, soyabean refined oil 450-500 tonnes at Rs 751-755 for August and about 50-100 tonnes of sunflower oil at Rs 761-765 for August.

Liberty was quoting palmolein at Rs 633-634 for August and Rs 639-640 for September, super palmolein at Rs 683, soya oil at Rs 770 and sunflower refined oil at Rs 770. Ruchi quoted palmolein at Rs 627 for August and Rs 630 for September. Soya refined oil at Rs 751-755 for August. Sunflower refined oil was at Rs 763-767 for August. Allana’s rate for palmolein was at Rs 630 for 1-15 September. Bunge’s rate was Rs 627 up to August 10.

Groundnut oil dropped by Rs 20 to Rs 1,850 for Telia tin and by Rs 10 to Rs 1,210 for loose-10kg.

Malaysia's crude palm oil August contracts settled lower at MYR 2,931 (MYR 2,898), September at MYR 2,940 (MRY 2,912) a tonne.

The Bombay Commodity Exchange spot rates were (Rs/10 kg): groundnut oil 1,190 (1,190), soya refined oil 752 (755), sunflower exp. ref. 705 (705), sunflower ref. 765 (765), rapeseed ref. oil 900 (905), rapeseed expeller ref. 870 (875) cotton ref. oil 755 (755) and palmolein 622 (622).

(This article was published on July 25, 2012)
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