12/07/2013 (Hindu Business Line) -  Edible oils ruled weak on Thursday on slack demand. Spot prices for soft oils such as palmolein, soyabean and sunflower refined oil dropped by Rs 2, Rs 5 and Rs 5 for 10 kg each. Rapeseed and cotton oil ruled steady, while groundnut oil rose by Rs 10 on extended gain in Saurashtra market .

During the day, about 900-1,000 tonnes of palmolein – soyabean refined oil were traded . Liberty sold 150-200 tonnes of palmolein at Rs 538 ex-JNPT for ready – near term delivery. It also sold 150-200 tonnes of super palmolein at Rs 575. Ruchi sold 150-200 tonnes of palmolein at Rs 545-548 for July-August and 80-100 tonnes of soyabean refined oil at Rs 665. Resellers sold 200-250 tonnes of palmolein at Rs 537-538.

Towards the day’s close, Liberty was quoting palmolein at Rs 538-545, super palmolein Rs 575 and super deluxe Rs 600. Ruchi quoted palmolein at Rs 547-551, soyabean refined oil Rs 665 and sunflower refined oil Rs 820. Allana was quoting palmolein at Rs 540-545 and super palmolein Rs 580. Gokuls’ rates were Rs 540-542 for palmolein. In Rajkot, groundnut oil gained Rs 50 to Rs 1,550 for telia tin and Rs 25 to Rs 1,000 for loose (10 kg).

Malaysian BMD crude palm oil’s August contracts closed lower at MYR 2,381 (MYR 2,382), September at MYR 2,371 (MYR 2,377)a tonne.

The Bombay Commodity Exchange spot rates (Rs/10 kg) were: groundnut oil 980 (970), soya refined oil 665 (670), sunflower exp. ref. 750 (755), sunflower ref. 815 (820), rapeseed ref. oil 695 (695), rapeseed expeller ref. 665 (665) cottonseed ref. oil 657 (657) and palmolein 538 (540).

Vikram Global Commodities (P) Ltd quoted Malaysian super palmolein at Rs 585 for 10 kg - July delivery.