22/03/2014 (Hindu Business Line) - The edible oils market witnessed weak trend on Friday, tracking extended loss on the futures market. On the Bombay Commodity Exchange Groundnut, soya oil, sunflower and rapeseed oil ruled steady. At Rajkot, groundnut oil Telia tin quoted static at ₹1,170 and loose (10 kgs) at ₹745. Palmolein rose by ₹3 and cotton oil increased by ₹5. Sources said that in the absence of physical demand, activities remained thin and isolated. Hardly 80-100 tonnes of palmolein were resold in the market. Stockiest preferred to fulfil old commitments. The slide in soyabean oil futures continued for the second day on persistent selling by stockists amid good supply from producing regions and weak trends in overseas markets.

End of the day Liberty was quoting palmolein Rs648, Super palmolein Rs668, super deluxe palmolein ₹677. Ruchi quoted palmolein ₹645, soyabean refined oil ₹675 and sunflower refined oil ₹700. Allana quoted palmolein at ₹643, soyabean refined oil ₹675 and sunflower refined oil ₹710.

Malaysia crude palm oil April contracts settled lower at MYR 2,822 (MYR 2,865), May at MYR 2,764 (MYR 2,809) and June at MYR 2,729 (MYR 2,773).

The Bombay Commodity Exchange spot rates (Rs/10 kg) were: groundnut oil 770 (770), soya refined oil 675 (675), sunflower exp. ref. 655 (655), sunflower ref. 700 (705), rapeseed ref. oil 715 (715), rapeseed expeller ref. 685 (685) cottonseed ref. oil 675 (670) and palmolein 635(632).