Edible oils prices ruled steady at lower levels on Thursday but rates in the futures markets tumbled.

In the absence of physical demand, volumes remained thin. Imported palmolein and soyabean refined oil dropped by Rs 8 and Rs 5 each.

Sunflower expeller refined oil declined by Rs 10 and cotton refined oil eased by Rs 2 for 10 kg.

Groundnut and rapeseed oil were steady.

In Mumbai, during the day Ruchi sold 300-350 tonnes of palmolein at Rs 475 ex-Patalganga while resellers offloaded 80-100 tonnes of palmolein at Rs 468-470.

Stockists kept away from fresh inventory buying .

In Saurashtra and Rajkot, groundnut oil was unchanged at Rs 1,950 for telia tin and Rs 1,270 for loose (10 kg).

Towards the day’s close, Liberty was quoting palmolein at Rs 478-480, super palmolein at Rs 535, soya refined oil Rs 684 and sunflower refined oil at Rs 785.

Ruchi quoted palmolein at Rs 475, soyabean refined oil at Rs 681, sunflower refined oil Rs 780 for Dec 20-31 and Rs 785 for January.

Allana’s rate for palmolein was Rs 477 and Rs 535 for super palmolein.

Malaysia’s crude palm oil’s January contracts settled at MYR 2,142 (MYR 2,142), February MYR 2,230 (MYR 2,241) and March MYR 2,303 (MYR 2,317) a tonne.

The Bombay Commodity Exchange spot rates (Rs/10 kg): groundnut oil 1,250 (1,250), soya refined oil 680 (685), sunflower exp. ref. 710 (720), sunflower ref. 780 (780), rapeseed ref. oil 810 (810), rapeseed expeller ref. 780 (780) cottonseed ref. oil 618 (620) and palmolein 472 (480).

Vikram Global Commodities has offered Malaysian super palmolein at Rs 556 for 10 kg ex-Chennai.

(This article was published on December 13, 2012)
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