10/04/2014 (Hindu Business Line) -Trading in the edible oils markets improved on Wednesday as stockists came forward with fresh orders at a lower price. Local refineries reduced their rates for imported palmolein and soya oil over ₹10 each, following slack physical demand. On the Bombay Commodity Exchange, barring groundnut oil which ruled steady despite weak Saurashtra market, palmolein and soya oil lost ₹11 and ₹5 each for 10 kg. Sunflower and rapeseed oil declined by ₹10 each. Cotton refined oil eased by ₹7.

During the day all local refineries together have booked orders for 1,200-1,300 tonnes of palmolein. Resellers offloaded 200-250 tonnes of palmolein at ₹600-601. Vikram Global Commodities (P) Ltd quoted ₹635/10 kg for Malaysia super palmolein April delivery. Liberty was quoting palmolein at ₹605, super palmolein ₹625 and soyabean refined oil ₹660. Ruchi quoted palmolein ₹607, soyabean refined oil ₹650 and sunflower refined oil ₹670. Allana was quoting palmolein at ₹607, soyabean refined oil ₹655 and sunflower refined oil ₹673.

At Rajkot, groundnut oil telia tin declined by ₹30 to ₹1,120 and loose (10 kg) dropped ₹25 to ₹705. Malaysia BMD crude palm oil’s futures April contracts settled higher at MYR 2,650 (MYR 2,619), May rose to MYR 2,631 (MYR 2,593) and June at MYR 2,613 (MYR 2,576).

Bombay Commodity Exchange spot rates (₹/10 kg): groundnut oil 750 (770), soya refined oil 655 (660), sunflower exp. ref. 605 (605), sunflower ref. 670 (680), rapeseed ref. oil 675 (685), rapeseed expeller ref. 645 (655) cottonseed ref. oil 658 (665) and palmolein 604 (615).