26/12/2013 (Hindu Business Line) - Lack of demand forced local refineries to lower palm oil rates by Rs 2-4 for 10 kg on Wednesday in the edible oils market. The Bombay Commodity Exchange was closed for Christmas.

In view of thin presence of brokers and absence of any cues, activities were totally subdued. Lack of demand kept the trade dull, said sources.

In Mumbai, Liberty quoted palmolein at Rs 576, super palmolein at Rs 596, super deluxe palmolein at Rs 616, soyabean refined oil at Rs 665 and sunflower refined oil at Rs 710.

Ruchi quoted palmolein at Rs 576, soyabean refined oil Rs 660 and sunflower refined oil Rs 680.

Allana was quoting palmolein at Rs 576 for January, super deluxe Rs 615, soyabean refined oil Rs 665 and sunflower refined oil Rs 700. Resellers were offering palmolein at Rs 571.

In Rajkot, groundnut oil was Rs 1,290 (Rs 1,290) for telia tin and loose (10 kg) at Rs 825 (Rs 825). Soyabean arrivals were 2.10 lakh bags and prices were Rs 3,600-3,750 in Maharashtra and in Madhya Pradesh it was Rs 3,700-3,900 ex mandi and Rs 3,900-4,000 plant delivery.

Mustard arrivals were 80,000 bags and its prices were Rs 3,225-3,700.

In Mumbai, nominal spot rates (Rs/10 kg) were: groundnut oil 825 (825), soya refined oil 660 (660), sunflower exp. ref. 635 (635), sunflower ref. 685 (685), rapeseed ref. oil 740 (740), rapeseed expeller ref. 710 (710) cottonseed ref. oil 615 (617) and palmolein 572 (573).