19/06/2012 (Hindu Business Line) - Edible oils, except groundnut oil, fared better on Monday on the back of global cues . Imported palmolein and soya oil rose by Rs 2 and Rs 5 for 10 kg each. Sunflower refined oil and cotton refined oil increased by Rs 5 and Rs 2. Rapeseed oil was up by Rs 10. Sentiment improved as market witnessed higher volumes on fresh demand. About 3,000 – 3,500 tonnes of edible oils were traded in the day, said a leading broker.

Mr Shailesh Kataria of Riddhi Broker told Business Line that election result in Greece has sent a positive sign in the commodities markets. International trade sees as some relief in euro zone. Tracking better and positive sentiments abroad local stockists came forward with fresh orders and covered sufficient quantity for coming festival months starting with Ramadan from July

Liberty sold about 500 – 600 tonnes palmolein at Rs 587-588 and at Rs 586-587 for delivery in July. Ruchi sold about 1,000 -1,200 tonnes of palmolein at Rs 583-588 for July and August, soya refined oil 500-700 tonnes at Rs 693-696 and sunflower refined oil 100 – 150 tonnes at Rs 712.

In Mumbai, Liberty quoted palmolein at Rs 590-591 for June and Rs 588-589 for July, soya oil Rs 700 and sunflower refined oil Rs 715.

Ruchi quoted palmolein at Rs 585-590, soya refined oil at Rs 696 and sunflower refined oil at Rs 712. Allana’s rate for Palmolein was 586 and Mewah quoted palmolein at Rs 584. In Saurashtra - Rajkot market groundnut oil rose by Rs 10 to Rs 1,945 (Rs 1,935) for Telia tin and Rs 1,270 (Rs 1,260) for loose - 10kg.

Malaysia's crude palm oil July contracts settled higher at MYR 2,871 (MYR 2,841), August at MYR 2,889 (MRY 2,848) and September at MYR 2,899 (MYR 2,849) a tone. The Bombay Commodity Exchange spot rates were (Rs/10 kg): groundnut oil 1,190 (1,190), soya refined oil 695 (690), sunflower exp. ref. 655 (655), sunflower ref. 715 (710), rapeseed ref. oil 800 (790), rapeseed expeller ref. 770 (760) cotton ref. oil 670 (668) and palmolein 584 (582)