Edible oils rule steady on strong futures

Our Correspondent Mumbai | Updated on May 28, 2013 Published on May 28, 2013


The undercurrent in edible oils market remained firm on Tuesday tracking firm domestic and overseas futures markets and weak Indian currency which led to import parity costly. In local market, barring palmolein which increased by Re 1 and rapeseed oil declined by Rs 3 for 10 kg all other oils ruled unchanged on slack physical demand. The volume was thin, said sources.

In Mumbai, during the day about 150-200 tonnes of palmolein were resale traded at Rs 505-506, an importer sold about 350-400 tonnes of palmolein at Rs 508 for June 15-30. Ruchi sold about 150-200 tonnes of soyabean refined oil at Rs 665. Towards the day’s close, Liberty was quoting palmolein at Rs 515-518 for June 15, super palmolein Rs 550 and sunflower refined oil Rs 780. Ruchi was quoting palmolein Rs 520 ex-Patalganga, soyabean refined oil Rs 665 and sunflower refined oil Rs 760. Palmolein at ex-Kandla was quoted in the range of Rs 502-510 in Gujarat.

Malaysian BMD crude palm oil’s June contracts settled higher at MYR 2,372 (MYR 2,365), July at MYR 2,393 (MYR 2,386) and August at MYR 2,388 (MYR 2,381) a tonne.

The Bombay Commodity Exchange spot rates (Rs/10 kg): groundnut oil 1,035 (1,035), soya refined oil 665 (665), sunflower exp. ref. 675 (675), sunflower ref. 762 (760), rapeseed ref. oil 695 (698), rapeseed expeller ref. 665 (668) cottonseed ref. oil 643 (643) and palmolein 508 (507).

Vikram Global Commodities, Chennai quoted Malaysian super palmolein at Rs 560 ex-Chennai.

Published on May 28, 2013
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