Edible oil prices were mixed on Wednesday. The market seemed to be moving in a narrow range amidst scattered physical demand.
Groundnut oil dropped by Rs 5 while soyabean and sunflower refined oil were up by Rs 5 for 10 kg each as local refineries raised price.
Palmolein, rapeseed and cotton refined oil ruled flat. The undercurrent of the market was steady as stockists were away from fresh buying.
Merely 80-100 tonnes of palmolein were resale traded during the day in the range of Rs 515-517. Demand for indigenous edible oils was lacking.
In Saurashtra – Rajkot, groundnut oil ruled steady at Rs 1,720 for Telia tin and by Rs 1120 for loose 10 kg.
Arrivals of cotton seed, groundnut and soyabean in producing States are expected to rise sharply after Dasara.
Towards the day’s close, Liberty was quoting palmolein at Rs 517 and super palmolein Rs 578, soya refined oil Rs 660. Ruchi quoted palmolein at Rs 515 for Nov 1-15 and Rs 510 for Nov 15-30, super palmolein Rs 576 for Nov 1-15 and Rs 571 for Nov 15-30.
Soya refined oil was at Rs 660 and sunflower refined oil Rs 705. Allana’s rates were Rs 518 for palmolein and Rs 575 for super palmolein.
Malaysia's crude palm oil November futures settled at MYR 2,393 (2,397), December closed higher at MYR 2,440 (2,435) and January at MYR 2,471 (2,466) a tonne.
The Bombay Commodity Exchange spot rates were (Rs/10 kg): groundnut oil 1,125 (1,130), soya refined oil 660 (655), sunflower exp. ref. 645 (645), sunflower ref. 705 (700), rapeseed ref. oil 830 (830), rapeseed expeller ref. 800 (800) cotton ref. oil 660 (660) and palmolein 516 (516).