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The edible oil market witnessed range-bound movement in line with Malaysian crude palm oil futures (CPO) that closed slightly higher.
In Mumbai, groundnut oil rose by Rs 5 for 10 kg, on fresh buying inquiry from brand makers and lower arrivals. Palmolein was down by Re 1 and rapeseed oil declined by Rs 2. Sunflower oil, cotton oil and soya refined oil ruled steady.
The volume was very thin as month-end thin demand weighed on sentiment. Market sources said in local market due to month-end period, fresh demand was lacking.
Volume of trade was very thin and need-based in palmolein. About 130-150 tonnes were resale traded in the range of Rs 551-552. Liberty was quoting palmolein Rs 552-555. Ruchi's rates were for palmolein Rs 553, soya refined oil Rs 600 and sunflower oil Rs 665 for 10 kg.
Malaysia's CPO futures - NBOT futures: Malaysia's BMD CPO futures April closed at MYR3,335 (MYR3,320), May at MYR3,301 (MYR3,294) and June at MYR3,282 (MYR3,261) a tonne.
Indore, NBOT soya oil futures April declined to Rs 596 (Rs 601.60) and May was Rs 606 (Rs 612.50).
Mumbai commodity exchange spot rate (Rs/10 kg): Groundnut oil 755 (750), soya refined oil 595 (595), sunflower exp. ref. 625 (625), sunflower ref. 670 (670), rapeseed ref. oil 603 (605), rapeseed expeller ref. 573 (575), cotton ref. oil 582 (582) and palmolein 553 (554).
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