30/03/2013 (Hindu Business Line) - Barring groundnut oil which rose by Rs 10, all other edible oils ruled unchanged on Friday. Extended loss in Malaysian palm oil futures tracking previous day’s late evening bearish US Department of Agriculture soya reports pulled down all market sentiments.

In Mumbai, volumes remained negligible and isolated as stockists stayed off due to financial year end. .

A wholesaler said, “In Mumbai, merely 100 -120 tonnes of edible oils were traded. Big gap in palmolein prices (despite rate cut by refineries) between local refineries and resellers kept volume arrested. As financial year closing comes nearer, stockists were not keen to bet for fresh trade. Resellers were offering palmolein at Rs 508-510 while refineries were quoting Rs 5-7 higher”.

At the close of the day Liberty was quoting palmolein at Rs 512-514, super palmolein Rs 550 and sunflower refined oil Rs 780. Ruchi was quoting palmolein Rs 515 up to April 15, soyabean refined oil Rs 655-660 for April and Rs 665-670 for May and sunflower refined oil Rs 771.

Allana quoted super palmolein Rs 548. In Saurashtra – Rajkot, groundnut oil was Rs 1,840 (Rs 1,840) for telia tin and Rs 1,195 (Rs 1,200) for 10 kg.

On the National Commodities and Derivatives Exchange: Soyabean refined oil’s April futures closed at Rs 693.15 (Rs 693.85); May Rs 684.00 (Rs 683.80) and May at Rs 677.10 (Rs 677.35) on the previous day.

In Malaysia, BMD crude palm oil’s April futures contracts closed lower at MYR 2,345 (MYR 2,372), May at MYR 2,371 (MYR 2,401) and June at MYR 2,378 (MYR 2,412) a tonne.

The Bombay Commodity Exchange spot rates (Rs/10 kg): Groundnut oil 1,210 (1,200), soya refined oil 655 (655), sunflower exp. ref. 680 (680), sunflower ref. 765 (765), rapeseed ref. oil 702 (702), rapeseed expeller ref. 672 (672), cottonseed ref. oil 620 (620) and palmolein 512 (512).