18/07/2013 (Hindu Business Line) - Imported edible oils along with cotton oil extended losses on Wednesday due to slack demand. Palmolein and soyabean refined oil declined by Re 1 and Rs 5 for 10 kg each. Cotton refined oil dropped by Rs 2.

Despite bearish reports from Saurashtra, groundnut oil along with rapeseed and sunflower oil ruled unchanged. Negligible volume in spot kept the sentiment weak, said sources.

Towards the day’s close, Liberty was quoting palmolein at Rs 533 and Rs 535 for August, super palmolein at Rs 570 for July-August and super deluxe Rs 590. Ruchi quoted palmolein at Rs 538 for July, Rs 540 for August and Rs 542 for September, soyabean refined oil Rs 645 for July and Rs 650 for August and sunflower refined oil Rs 810 for July-August. Allana was quoting palmolein at Rs 542-545 and super palmolein Rs 580.

In Rajkot, groundnut oil declined further by Rs 20 to Rs 1,570 for telia tin and by Rs 5 to Rs 1,020 for loose (10 kg) on reports of higher acreage. Soyabean arrivals were about 95,000 bags and its prices were Rs 3,550-3,650 ex mandi and Rs 3,750-3,790 for plant delivery.

Mustard seeds arrivals were 85,000 bags and the prices were Rs 3,090-3,625.

Malaysia BMD crude palm oil’s August contracts closed at MYR 2,276 (MYR 2,259), September at MYR 2,269 (MYR 2,245) and October at MYR 2,252 (MYR 2,228) a tonne.

The Bombay Commodity Exchange spot rates (Rs/10 kg) were: groundnut oil 1,000 (1,000), soya refined oil 645 (650), sunflower exp. ref. 750 (750), sunflower ref. 810 (810), rapeseed ref. oil 685 (685), rapeseed expeller ref. 655 (655) cottonseed ref. oil 648 (650) and palmolein 527 (528).

Vikram Global Commodities (P) Ltd quoted Rs 571/10 kg for Malaysian super palmolein - July delivery.