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Except for imported palmolein and soya refined oil that rose by Re 1 each for 10 kg, edible oils were unchanged even as demand remained low and global commodities saw a broad rally.
Bombay Commodity Exchange will have muhurat trading on the evening of October 26. The market will remain closed on Thursday and Friday. Routine trading will resume from Saturday, a Bombay Commodity Exchange spokesperson said.
In Saurashtra, cotton (wash) oil improved on higher demand. New arrivals at producing centres are going to increase after Diwali, especially after Labh Panchami ,, said a wholesaler.
Crude palm oil (CPO) futures rose on Bursa Malaysia Derivatives (BMD) in step with a broad global rally across equities and commodities. Indian markets are expected to remain range-bound this week against the backdrop of surplus stocks and low demand, sources said.
Few needy buyers bought little quantities of palmolein in the local market. Resellers sold palmolein at Rs 533-534. Refiners increased palmolein prices by Rs 2. Liberty offered palmolein at Rs 538-539 for October delivery, soya oil at Rs 633 and super palmolein at Rs 572. Ruchi quoted palmolein for November delivery at Rs 534 and soya refined oil at Rs 630 for October delivery. Allana quoted palmolein at Rs 535 for delivery between November 5 and 15. In Saurashtra and Rajkot, while a telia tin of groundnut oil remained unchanged at Rs 1,280, loose (10 kg) rose at Rs 825 (Rs 820). Cotton (wash) quoted at at Rs 620-622.
Malaysia's BMD CPO's November contracts settled at MYR2,890 (MYR2,881), December at MYR2,891 (MYR2,886) and January at MYR2,890 (MYR2,883) a tonne. Soya oil for November delivery closed at Rs 617 (Rs 614.20) and at Rs 615.50 (Rs 615.50) for December delivery on National Board of Trade in Indore.
Bombay Commodity Exchange spot prices (Rs/10 kg): groundnut oil 840 (840), soya refined oil 631 (630), sunflower exp. ref. 655 (655), sunflower ref. 725 (725), rapeseed ref. oil 700 (700), rapeseed expeller ref. 670 (670), cotton ref. oil 650 (650) and palmolein 535 (534).
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