Edible oils witnessed a mixed trend on Thursday.

Groundnut oil remained unchanged here despite a jump of Rs 25 for 10 kg on demand from brand-makers and consumers in Saurashtra. Soya refined and sunflower oil remained unchanged. Tight supplies pushed up palmolein by Rs 2 and cotton refined oil by Rs 3. Rapeseed oil lost Rs 10.

Volumes were thin as buying for Diwali was over. Crude palm oil (CPO) futures on Bursa Malaysia Derivatives (BMD) fell on Thursday as escalating fears about the European Union's ability to resolve its debt problems and an uncertain economic outlook from the US Federal Reserve spurred investors to liquidate riskier positions. Needy buyers bought palmolein at Rs 526-527 in the resale market.Liberty offered palmolein at Rs 530-531, soya oil at Rs 630 and super palmolein at Rs 566. Ruchi quoted palmolein at Rs 524-525 for delivery between October 25 and November 25 and soya refined oil at Rs 626. Allana offered palmolein at Rs 525 for delivery between November 1 and 10. In Saurashtra, 80,000-85,000 bags of groundnuts arrived. Improved demand lifted a telia tin of groundnut oil by Rs 30 to Rs 1,280 and loose (10 kg) by Rs 25 to Rs 825. Cotton (wash) sold at Rs 612-613.

Malaysia's BMD CPO's November contracts settled at MYR2,860 (MYR2,880), December at MYR2,866 (MYR2,886) and January at MYR2,866 (MYR 2,892) a tonne. Soya oil for November delivery was at Rs 609 (Rs 612.80) and at Rs 611 (Rs 616) for December delivery on National Board of Trade in Indore.

Bombay Commodity Exchange spot rates (Rs/10 kg): groundnut oil 840 (840), soya refined oil 625 (625), sunflower exp. ref. 655 (655), sunflower ref. 725 (725), rapeseed ref. oil 685 (695), rapeseed expeller ref. 655 (665), cotton ref. oil 648 (645) and palmolein 528 (526).

comment COMMENT NOW