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Edible oils rule mixed with cautious activities on Wednesday tracking cues from weak futures amid slight recovery in rupee. Indian currency was at Rs61.68 hovering near seven month low Rs 61.80 previous session. With need based volume in palmolein morale remained steady ahead of three – four days continuous holidays.
On Bombay Commodity Exchange Palmolein rose by Rs1 and cotton refined oil declined by Rs5 while other major oil ruled unchanged. Malaysian palm oil futures closed lower by 22 ringgits but remain above 2200 ringgits a ton on expectation of higher demand.
Sources said recovery in domestic rupee and weak Malaysian palm oil futures kept activities need base and isolated in spot. Hardly 150 -200 tons of palmolein was resold at Rs512-Rs515 Ex JNPT during the day. Local refineries prices were steady but it proved higher compare to resells. Hope of arrivals of cotton and other Kharif oilseeds will improve sharply coming days kept weighing on sentiments.
At the end of the day Liberty was quoting Palmolein Rs520- 522 for 31 Oct, Super Palmolein Rs552 for 15-31 Oct and Soyabean refined oil Rs622 for 31 Oct.
Ruchi was quoting Palmolein Rs518 for 10-31 Oct, Soyabean refined oil Rs3 higher Rs618 for 25-10 to 30-11 and Sunflower refined oil Rs630 for Nov.
Allana was quoting Palmolein Rs525 for Oct, Super Palmolein Rs550, Soyabean refined oil Rs620 and sunflower oil Rs630 for Oct. Soyabean arrivals in Madhya Pradesh were about 25000 bags.
In Saurashtra – Rajkot Groundnut oil Telia was Rs1180 (Rs 1180) and Loose (10 kgs) was at Rs750 (Rs.750).
Malaysia BMD crude palm oil’s Oct-14 settled lower at MYR 2,210 (MYR 2,232), Nov-14 ended at MYR 2,206 (MYR 2,227) and Dec-14 at MYR 2,195 (MYR 2,217).
On National Commodities and Derivatives Exchange, Soyabean refined oil Oct-14 was Rs608.30 (Rs.614.00), Nov-14 lower at Rs588.30 (Rs.592.90) and Dec-14 was Rs583.20 (Rs.583.25) at 5.00 PM local time.
On The Bombay Commodity Exchange spot rates (Rs/10 kg) were: groundnut oil 790 (790), soya refined oil 615 (615), sunflower exp. ref. 575 (575), sunflower ref. 625 (620), rapeseed ref. oil 722 (722), rapeseed expeller ref. 692 (692) cottonseed ref. oil 635 (640) and Palmolein 514 (513).
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