11/01/2012 (Hindu Business Line) - Imported palmolein and soya refined oil rose by Rs 2 and Rs 10 for 10 kg on Tuesday as Malaysian markets improved and physical demand increased.

Rapeseed oil was up Rs 8 for 10 kg on lower sowing of rape-mustard seeds and lower arrivals in producing centres because of cold weather. Cotton refined oil rose by Rs 2 for 10 kg. Groundnut oil and sunflower refined oil were unchanged despite lack of demand. Malaysian crude palm oil futures were up marginally due to short-covering. New demand from stockists increased for ready and forward delivery tracking a positive trend in foreign markets. More than 1,000 tonnes of palmolein changed hands during the day. Local refiners kept palmolein offer rates unchanged. A refiner sold about 180-200 tonnes of palmolein at Rs 605-607. Resellers traded about 750-800 tonnes of palmolein at Rs 598-605. Liberty offered palmolein at Rs 607-609 and super palmolein at Rs 630. Ruchi quoted palmolein at Rs 595. Allana offered palmolein at Rs 605. In Saurashtra and Rajkot, cotton (wash) oil quoted at Rs 625-626 while groundnut oil was unchanged at Rs 1,575 for a telia tin and at Rs 1,025 for loose (10 kg).

Malaysian crude palm oil's January contracts settled at MYR3,220 (MYR3,210) and February MYR3,219 (MYR3,220) a tonne. Soya oil for January delivery dropped to Rs 723 (Rs 726.50) and to Rs 720 (Rs 721.30) for February delivery on the National Board of Trade in Indore.

Bombay Commodity Exchange spot rates (Rs/10 kg): groundnut oil — 1,010 (1,010), soya refined oil — 705 (695), sunflower exp. ref. — 655 (655), sunflower ref. — 730 (730), rapeseed ref. oil — 828 (820), rapeseed expeller ref. — 798 (790), cotton ref. oil — 660 (658) and palmolein — 607 (605).