10/05/2013 (Hindu Business Line) - Barring cotton refined oil, which rose by Rs 3 for 10 kg, tracking firm reports from producing centres, all other edible oils ruled unchanged on Thursday on lack of demand.

Imported palmolein and soya oil were steady following volatility in Malaysian palm oil futures.

Groundnut, sunflower and rapeseed oil were subdued. The volume remained thin as retail shops were closed for the second day in protest of Local Body Tax.

Sources said that traders in the local market were waiting for MPOB and exports data for more clues.

Hopefully, the market may see a clearer direction then. Traders are expecting higher export growth rate than production growth for January – March.

In Mumbai, about 80-100 tonnes of palmolein were resale traded during the day at Rs 497-498.

Towards the day’s close, Liberty was quoting palmolein at Rs 500-506, super palmolein Rs 540 and sunflower refined oil Rs 780.

Ruchi was quoting palmolein at Rs 508 ex-Patalganga and Rs 500 ex JNPT, soyabean refined oil Rs 662 and Rs 765 for sunflower refined oil.

Allana quoted super palmolein at Rs 540. In Saurashtra – Rajkot, groundnut oil was steady at Rs 1,730 for telia tin and Rs 1,125 for loose (10 kg).

Malaysian BMD crude palm oil’s June contracts ended lower at MYR 2,280 (MYR 2,283), July MYR 2,287 (MYR 2,289) and August at MYR 2,286 (MYR 2,286) a tonne.

The Bombay Commodity Exchange spot rates (Rs/10 kg): groundnut oil 1,130 (1,130), soya refined oil 660 (660), sunflower exp. ref. 685 (685), sunflower ref. 765 (765), rapeseed ref. oil 675 (675), rapeseed expeller ref. 645 (645) cottonseed ref. oil 640 (637) and palmolein 500 (500).

Vikram Global Commodities, Chennai has quoted for Malaysian Super Palmolein Rs.550 ex-chennai.