Soya oil futures prices rose Rs 10 on Friday tracking a rebound in foreign markets while in spot it ruled unchanged on slack demand. Firm Malaysian palm oil futures lifted palmolein volumes in domestic market.

Considering lower price level, stockists entered the market with fresh buying orders for current month and April. About 3,400-3,500 tonnes of palmolein were traded, said a broker. In Mumbai market, groundnut oil and rapeseed oil dropped by Rs 10 and Rs 5 each for 10 kg. Cotton refined oil declined Rs 3. Palmolein, soyabean refined oil and sunflower oil ruled steady.

New mustard seeds arrivals were 5.10 lakh bags nationally and soyabean arrivals were 75,000-80,000 bags in Madhya Pradesh. At producing centres, mustard seeds prices were Rs 3,200-3,350 while that of soyabeans were Rs 3,400-3,500 at mandi level and Rs 3,530-3,600 at plant level.

Towards the day’s close, Liberty was quoting palmolein at Rs 511-512 ex Shahpur – Mumbai and Rs 505 ex-JNPT up to April 15. Super palmolein was Rs 550 and sunflower refined oil Rs 780. Ruchi was quoting palmolein at Rs 510 for April 15 and Rs 508 for March 15-31 ex-JNPT, soyabean refined oil Rs 641 for March and Rs 645 for April 1-10. Sunflower refined oil was Rs 771.

Allana quoted super palmolein at Rs 545. In Saurashtra – Rajkot, groundnut oil was Rs 1,885 (Rs 1,885) for telia tin and Rs 1,225 (Rs 1,225) for loose (10 kg).

On the NCDEX, soyabean refined oil’s April futures was higher by Rs 10.55 to Rs 678.20 , May by Rs 8.95 to Rs 670.60 and June by Rs 7.70 to Rs 669.30 . Malaysian BMD crude palm oil’s April contracts closed higher at MYR 2,401(MYR 2,352), May at MYR 2,415 (MYR 2,364) and June at MYR 2,419 (MYR 2,370) a tonne.

The Bombay Commodity Exchange spot rates (Rs/10 kg): groundnut oil 1,210 (1,220), soya refined oil 641 (641), sunflower exp. ref. 685 (690), sunflower ref. 770 (770), rapeseed ref. oil 690 (695), rapeseed expeller ref. 660 (665) cottonseed ref. oil 609 (612) and palmolein 505 (505).

Vikram Global Commodities, Chennai, has quoted for Malaysian super palmolein at Rs 548 ex-Chennai. Also quoted $926 for CIF JNPT and $933 for CIF Kandla.

(This article was published on March 15, 2013)
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.