24/08/2012 (Hindu Business Line) - Edible oil market witnessed mixed trend on Thursday on lack of demand and thin volume. Groundnut oil, rapeseed oil and palmolein ruled unchanged while soyabean refined oil, sunflower oil and cotton refined oil increased by Rs 5 for 10 kg each tracking firm reports from producing centres and bullish domestic futures. Shailesh Kataria of Riddhi Brokers said as prices of all edible oils have gone up sharply (in the range of Rs 15-30 for 10 kg) in the last seven days, most stockists have preferred to stay away from fresh buying and concentrate to fulfil the old commitments. Less than 100 tonnes of palmolein were resale traded during the day in the range of Rs 620-621. Liberty was quoting palmolein at Rs 628-629 for September and Rs 630-631 for October, super palmolein at Rs 670 and Rs 671, soya oil Rs 772 and sunflower refined oil at Rs 780 up to September 15. Ruchi quoted palmolein at Rs 627 up to September 10 and Rs 630 for 11 – 20 September. Soya refined oil was Rs 771 and sunflower refined oil Rs 778 for September. Allana’s rate for palmolein was Rs 625 for 1- 15 September. Vaibhavi quoted palmolein at Rs 625 for 1-15 September. Resale rate for palmolein was Rs 620-622. In Saurashtra – Rajkot, groundnut oil extended steady gains on higher demand. Telia tin was Rs 1,980 (Rs 1,980) and loose 10 kg was up by Rs 10 to Rs 1,320.

On National Board of Trade – Indore, soya refined oil September futures closed higher at Rs 805 (Rs 802) and October at Rs 808 (Rs 797). Malaysia's crude palm oil September contracts closed at MYR 3,017 (MYR 3,008), October closed lower at MYR 3,041 (MYR 3,048) and November at MYR 3,061 (MYR 3,078) a tonne.

The Bombay Commodity Exchange spot rates were (Rs/10 kg): groundnut oil 1,250 (1,250), soya refined oil 765 (760), sunflower exp. ref. 715 (710), sunflower ref. 775 (778), rapeseed ref. oil 895 (895), rapeseed expeller ref. 865 (865) cotton ref. oil 765 (760) and palmolein 620 (620).