The edible oils market witnessed thin activities in resale on Monday after the futures market turned weak. Higher arrivals of kharif oilseeds in producing areas and bearish world market on back of higher soya oil and palm oil supply affected sentiments. On the Bombay Commodity Exchange, palmolein and cotton refined oil declined by ₹1 each. Groundnut, soya, sunflower and rapeseed oil rule unchanged. Sources said from the start of the day, a weak futures market affected the sentiment in spot market. Local refineries reduced their rates for palmolein accordingly. Stockists stayed away as retail demand eased after Navaratri-Dashera. Daily arrivals of soyabean in Madhya Pradesh and Maharashtra reached over 1.75-2 lakh bags. However due to delayed and insufficient rain this year, the overall oilseed production will be less than last year.

Vikram Global Commodities (P) Ltd, Chennai, quoted ₹540 in October Delivery for 10kg Malaysian Super Palm. At the end of the day, Liberty was quoting Palmolein at ₹504-506 for October 31, Super Palmolein ₹536 for October 15-31 and Soyabean refined oil ₹622 for October 31.

On the National Commodities and Derivatives Exchange, soyabean refined oil November futures dropped to ₹578.20 (₹583.95), December declined to ₹575.20 (₹579.80) and January to ₹576 (₹581.30).

On the Bombay Commodity Exchange spot rates (₹/10 kg) were: groundnut oil 840 (840), soya refined oil 613 (613), sunflower exp. ref. 570 (570), sunflower ref. 630 (630), rapeseed ref. oil 720 (720), rapeseed expeller ref. 690 (690) cottonseed ref. oil 632 (633) and Palmolein 504 (505).

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