Extended gain in Malaysian palm oil futures on fourth consecutive day lift edible oils prices in domestic markets on Tuesday.

Market sources said firm Malaysian palm oil futures supported by forecasts of slower than expected output growth and buying support despite weaker export data encourage local stockiest for fresh commitments. During the day over 2,000 tonnes of palmolein bought by stockiest in the range of ₹572-580 for August – September from Emami, Allana and Liberty. About 100 tonnes of soyabean refined oil was resold at ₹660 for August.

Liberty ’s rates for Palmolein ex JNPT was ₹580 for 1-15 September. Ex STC / Shapur were ₹582 / 583 for 25 August-15 September. Super palmolein ₹605 for 25 August – 15 September.

Allana’s ratesfor Palmolein were ex Khapoli / IVP ₹585/ 588 for 1September – 15 October. Soya refined oil ₹675 for September. Sunflower refined oil ₹685 for August / September.

Golden Agri’s rate for palmolein was ₹580 for September. Emami quoted palmolein at ₹580 for September. Olam quoted palmolein at ₹580 for 15 – 30 September.

At Rajkot, groundnut oil up by ₹10 to ₹1,320 (1,310) for Telia tin and for Loose (10 kg) was ₹825 (820).

Malaysian crude palm oil September - 17 futures settled higher at MYR 2,729 (MYR 2,703) and Oct -17 ended at MYR2,729 (MYR 2,703).

On National Commodities and Derivatives Exchange Soyabean refined oil September-17 futures increased to ₹661.00 (659.10) and October-17 was at ₹670.00 (668.35).

On The Bombay Commodity Exchange spot rates (₹/10 kg) were: groundnut oil 860 (860), soya refined oil 660 (650), sunflower exp. ref. 625 (620), sunflower ref. 685 (680), rapeseed ref. oil 810 (810), rapeseed expeller ref. 780 (780), cottonseed ref. oil 695 (685) and Palmolein 575 (564).

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