Weak tendency remained in edible oils market on Thursday due to month-end eased demand. In ready market, the absence of fresh demand pulled down rapeseed oil by Rs 5 and cotton refined oil by Rs 3 for 10kg, while other edible oils such as groundnut oil, sunflower oil, palmolein and soya oil ruled steady with cautious mood. Stockists have covered 1,800-2,000 tonnes of palmolein for September-October delivery. Liberty was quoting palmolein at Rs 615-616 for September-October. Super palmolein was Rs 658, soya oil Rs 775 and sunflower refined oil Rs 785. Ruchi quoted palmolein at Rs 612-613, soya refined oil at Rs 775 and sunflower refined oil was Rs 781. On the National Board of Trade in Indore, soya refined oil September futures closed at Rs 797 (Rs 798.30) and October closed at Rs 804.50 (Rs 803.40).

Malaysia's crude palm oil September contracts settled higher at MYR 2,925 (MYR 2,915), October closed at MYR 2,969 (MYR 2,968) and November at MYR 3,019 (MYR 3,000) a tonne.

The Bombay Commodity Exchange spot rates were (Rs/10 kg): groundnut oil 1,250 (1,250), soya refined oil 765 (765), sunflower exp. ref. 730 (725), sunflower ref. 775 (775), rapeseed ref. oil 890 (895), rapeseed expeller ref. 860 (865) cotton ref. oil 767 (770) and palmolein 612 (612).

(This article was published on August 30, 2012)
XThese are links to The Hindu Business Line suggested by Outbrain, which may or may not be relevant to the other content on this page. You can read Outbrain's privacy and cookie policy here.