22/04/2014 (HIndu Business Line) - Barring palmolein and rapeseed oil, which declined by ₹1 and ₹5 for 10 kg each, all other edible oils ruled steady on Monday on slack demand amid weak overseas futures market. In spot market, the volume remained thin and isolated as stockists stayed away.

Sources said need-based local demand , thin volatility in the futuresmarket and weakness in domestic currency against dollar kept stockists away from fresh bets. Arrivals of import of cargoes at Mumbai port and continuous selling by local refineries at lower rates kept traders cautious. During the day, hardly 180-200 tonnes of palmolein were resold at ₹603-604. Vikram Global Commodities (P) Ltd quoted ₹630/10 kg for Malaysia super palmolein. Liberty was quoting palmolein at ₹605, super palmolein ₹625 and soyabean refined oil ₹662. Ruchi quoted palmolein at ₹605, soyabean refined oil ₹660 and sunflower refined oil ₹660. Allana was quoting palmolein at ₹605, soyabean refined oil ₹662 and sunflower refined oil ₹659. At Rajkot, groundnut oil Telia tin increased to ₹1,130 (₹1,120) and loose (10 kg) up by ₹5 to ₹720.

Malaysia crude palm oil’s May futures settled higher at MYR 2,695 (MYR 2,694), June at MYR 2,655(MYR 2,648) and July at MYR 2,642 (MYR 2,634).

Bombay Commodity Exchange spot rates (₹/10 kg): groundnut oil 750 (750), soya refined oil 660 (660), sunflower exp. ref. 600 (600), sunflower ref. 660 (660), rapeseed ref. oil 685 (690), rapeseed expeller ref. 655 (660) cottonseed ref. oil 660 (660) and palmolein 604 (605).