15/05/2013 (Hindu Business Line) - Imported palmolein and soyabean refined oil dropped by Rs 3 and Re 1 for 10 kg each on eased local demand and tracking weak closing of Malaysian palm oil futures.

Domestic soya oil futures ruled firm as arrivals of mustard and soyabean declined in producing centres. Sunflower refined oil declined by Rs 5.

Rapeseed and cotton refined oil gained Rs 5 and Rs 3 each.

The volume was thin and isolated in resale due to lack of demand.

In Mumbai market, due to lack of demand volumes remained thin.

Stockists kept away from fresh bet and preferred to fulfil old commitments.

Merely 80-100 tonnes of palmolein were resale traded at Rs 505-506 for ready – nearby delivery.

Towards the day’s close, Liberty was quoting palmolein at Rs 510-514, super palmolein at Rs 545 and sunflower refined oil at Rs 780.

Ruchi was quoting palmolein at Rs 514, soyabean refined oil Rs 660 and sunflower refined oil at Rs 760.

Allana’s rates for palmolein were Rs 545.

Malaysian BMD crude palm oil’s June contracts closed at MYR 2,294 (MYR 2,296), July at MYR 2,301 (MYR 2,310) and August at MYR 2,302 (MYR 2,311) a tonne.

The Bombay Commodity Exchange spot rates (Rs/10 kg): groundnut oil 1,140 (1,140), soya refined oil 662 (663), sunflower exp. ref. 675 (675), sunflower ref. 760 (765), rapeseed ref. oil 690 (685), rapeseed expeller ref. 660 (655) cottonseed ref. oil 648 (645) and palmolein 507 (510).

Vikram Global Commodities, Chennai has quoted Malaysian super palmolein at Rs 558 ex-Chennai.