13/03/2013 (Hindu Business Line) - With the improved arrivals of kharif crops in producing centres, prices of edible oils dropped by Rs 3-6 for 10 kg. Soyabean refined oil declined by Rs 6.

Weak Malaysian palm oil pulled down palmolein by Rs 3. Sunflower, cotton and groundnut oil were also under pressure. Rapeseed oil inched up marginally by Re 1.

Sources said: “slack local demand keeps stockists away from fresh buying. Only needy wholesalers took benefits of lower resale prices. As arrivals of imported oils are continuing and sufficient inventories with stockists, volumes remained thin. Resellers offloaded about 150- 200 tonnes of palmolein at Rs 510-511 ex-JNPT and Rs 514-515 ex-Shahpur – Patalganga. There were commitments for indigenous oils during the day due to improve arrivals of seed in producing centers”.

Daily arrivals of mustard seeds rose to 4.50 lakh bags compared to 3 lakh bags the previous day. Soyabean arrivals were 1.80 lakh bags nationally.

Towards the day’s close, Liberty was quoting palmolein at Rs 514-515 ex-JNPT and Rs 518-519 for Shahpur-Mumbai. Super palmolein was Rs 555 for March – April, sunflower refined oil at Rs 790.

Ruchi was quoting palmolein at Rs 518 ex-Patalganga up to April 15 and Rs 514 for March 15-31 ex-JNPT, soyabean refined oil Rs 655 and sunflower refined oil Rs 780. Allana quoted super palmolein for Rs 550.

On the NCDEX, soyabean refined oil’s April futures closed lower at Rs 673.55 (Rs 678.25), May dropped to Rs 670.30 (Rs 676.30) and June closed at Rs 672 (Rs 678.75).

Malaysina BMD crude palm oil’s April contracts closed at MYR 2,404 (MYR 2,440), May at MYR 2,411 (MYR 2,450) and June at MYR 2,414 (MYR 2,451) a tonne.

The Bombay Commodity Exchange spot rates (Rs/10 kg): groundnut oil 1,210 (1,210), soya refined oil 655 (661), sunflower exp. ref. 705 (700), sunflower ref. 780 (783), rapeseed ref. oil 711 (710), rapeseed expeller ref. 681 (680) cottonseed ref. oil 616 (616) and palmolein 512 (515).