Imported palmolein rose by Re 1 for 10 kg on Monday, tracking a strong rupee and firm reports from abroad.

Cotton refined oil increased by Rs 2 on rising demand at producing level.

Malaysian palm oil futures rose to a near two-week high on Monday, as investor worries about the Euro-Zone debt crisis eased and demand showed signs of improving ahead of the fasting month of Ramzan in July.

Market sources said improvement in the rupee against the dollar and the possibility that the Government may increase tariff values or import duties on edible oils to curb imports led stockists to bet for fresh buying as the new month approaches.

Total about 1,900–2,000 tonnes of palmolein were traded, but most of the volume was for forward delivery up to June.

Liberty sold about 900-1,000 tonnes of palmolein at Rs 631, Ruchi sold 450–500 tonnes at Rs 630 for June delivery and about 400-450 tonnes was traded in the resale market at Rs 624-628.

Liberty quoted soya oil at Rs 700 and sunflower refined oil at Rs 730. Ruchi quoted soya refined oil at Rs 700 and sunflower refined oil at Rs 735. Resellers quoted palmolein at Rs 626-628.

Malaysia's crude palm oil's July contracts closed at MYR 3,147 (MYR 3,130), August at MYR 3,144 (MYR 3,130) and September at MYR 3,136 (MYR 3,123) a tonne.

On the National Board of Trade in Indore, soya refined oil's June futures closed higher at Rs 730.20 (Rs 726.50) and July at Rs 737.20 (Rs 735.30).

The Bombay Commodity Exchange spot rates (Rs/10 kg): groundnut oil 1,185 (1,185), soya refined oil 695 (695), sunflower exp. ref. 660 (660), sunflower ref. 715 (715), rapeseed ref. oil 792 (792), rapeseed expeller ref. 762 (762) cotton ref. oil 662 (660) and palmolein 628 (627).

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