Improved arrivals of groundnut, mustard and soyabean in producing centres and slack demand ahead of year end continue to weigh on edible oils markets. Groundnut oil extended loss further by Rs 5, tracking weak Saurashtra market.

Imported palmolein and soyabean refined oil declined by Re 1 and Rs 2 for 10 kg each despite higher closing of Malaysian palm oil futures. Rapeseed oil dropped by Rs 5. Sunflower and cotton oil were unchanged .

A local broker said that activities in Mumbai market remained lacklustre. Stockists continued buying for the beginning of the newfiscal starting April. In ready delivery, merely 80-100 tonnes of palmolein were sold at Rs 502-503 ex-JNPT in resale. Bunge sold about 1,000-1,200 tonnes of palmolein at Rs 501 for April 1-10.

Towards the day’s close, Liberty was quoting palmolein at Rs 511 ex-Shahpur for April and Rs 508 ex-JNPT for April 15, super palmolein Rs 550 and sunflower refined oil Rs 780. Ruchi was quoting palmolein at Rs 510 Patalganga for April 15 and Rs 507 ex-JNPT for March 20-30, soyabean refined oil Rs 641 and sunflower refined oil Rs 771.

Allana quoted super palmolein Rs 545. In Saurashtra-Rajkot, groundnut oil was Rs 1,835 (Rs 1,835) for telia tin and Rs 1,195 (Rs 1,200) for loose (10 kg).

Malaysian BMD crude palm oil ’s April contracts settled higher at MYR 2,429 (MYR 2,414), May at MYR 2,440 (MYR 2,416) and June at MYR 2,441 (MYR 2,415) a tonne.

The Bombay Commodity Exchange spot rates (Rs/10 kg): groundnut oil 1,200 (1,205), soya refined oil 638 (640), sunflower exp. ref. 685 (685), sunflower ref. 770 (770), rapeseed ref. oil 690 (695), rapeseed expeller ref. 660 (665) cottonseed ref. oil 605 (605) and palmolein 503 (504).

Vikram Global Commodities, Chennai has quoted Malaysian super palmolein at Rs 555 ex-Chennai for April delivery.

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