Barring soya refined oil which rose by Rs 3 and groundnut oil that declined by Rs 20, other edible oils ruled steady on Wednesday tracking steady Malaysian palm oil futures. Investors awaited clarity on whether the US Federal Reserve will trim its stimulus programme, after a two-day meeting.
Sources said, that due to rain and after sufficient covering in the last few days, activities remained subdued this week.
About 200-250 tonnes palmolein were trade in resale at Rs 528-530. Ruchi sold about 150-200 tonnes soyabean refined oil at Rs 677 for delivery up to July. Good progress of monsoon across the country and hope of higher oilseeds production this year have put pressure on indigenous edible oils such as groundnut, cotton and sunflower oil.
In Saurashtra, groundnut oil fell by Rs 50 for 10 kg.
Soyabean arrivals were 85,000-88,000 bags and its prices were Rs 3,950 ex-mandi and Rs 4,000 for plant delivery.
Mustard seeds arrivals were 1.50 lakh-1.55 lakh bags at Rs 3,100-3,600.
At the end of the day, Liberty quoted palmolein Rs 550, super palmolein Rs 585 and super deluxe Rs 605. Ruchi quoted palmolein Rs 550; soyabean refined oil Rs 677 for June-July and Rs 680 for August; sunflower refined oil Rs 795.
Gokul’s rates for palmolein were Rs 535 for June and Rs 540 for July 1-15. In Rajkot, groundnut oil declined by Rs 70 to Rs 1,480 (Rs 1,550) for telia tin and by Rs 50 to Rs 950 (Rs 1,000) for loose 10 kg.
On the National Commodities and Derivatives Exchange, soyabean refined oil July futures were Rs 702 (Rs 702.95); August Rs 695.70 (Rs 695.70) and September was Rs 685.15 (Rs 685.15).
Malaysia BMD crude palm oil July contracts settled at MYR 2,466 (MYR 2,465); August ended at MYR 2,481 (MYR 2,473) and September at MYR 2,472 (MYR 2,468) a tonne.
The Bombay Commodity Exchange spot rates (Rs/10 kg) were: Groundnut oil 980 (1,000), soya refined oil 675 (672), sunflower exp. ref. 735 (735), sunflower ref. 790 (795), rapeseed ref. oil 695 (695), rapeseed expeller ref. 665 (665) cottonseed ref. oil 667 (667) and palmolein 532 (532).
Vikram Global Commodities, Chennai, quoted Malaysian super palmolein at Rs 575 ex-Chennai for delivery in 15 days.