14/09/2013 (Hindu Business Line) - Fear of import duty hike on refined oils led to higher volume being traded in edible oil market on Friday. Palmolein and rapeseed oil rose by Rs 2 each. Cotton refined oil was up Rs 5. Soyabean oil was dropped by Re 1 while sunflower oil lost Rs 5-10 for 10 kg. Groundnut oil remained steady.

Expectation of increase in new crops arrivals capped gains, said a broker.

During the day, Liberty sold about 1,100-1,200 tonnes of palmolein at Rs 575 and super palmolein 250- 300 tonnes at Rs 600 for delivery up to October 5.

Ruchi sold 200-250 tonnes of soyabean refined oil at Rs 650 for delivery up to October 10. Resellers sold 150-200 tonnes of palmolein at Rs 572-573 for ready/nearby delivery, said sources.

Towards the day’s close, Liberty was quoting palmolein at Rs 575, super palmolein Rs 608 and super deluxe Rs 628, soyabean refined oil Rs 655 and sunflower refined oil Rs 830. Ruchi quoted palmolein at Rs 578, soyabean refined oil Rs 650 and sunflower refined oil Rs 821. Allana was quoting palmolein at Rs 576, super palmolein Rs 623, soyabean refined oil Rs 655 and sunflower refined oil Rs 825. Gokul’s rate were Rs 577 for palmolein.

In Rajkot, groundnut oil was Rs 1,250 (Rs 1,250) for telia tin and loose (10 kg) Rs 800 (Rs 800).

Soyabean arrivals were 50,000 bags and its prices were Rs 3,400-3,500 ex mandi and Rs 3,550-3,600 for plant delivery. Mustard seed arrivals were one lakh bags and prices were Rs 3,200-3,725.

Malaysia BMD crude palm oil’s October contracts was higher at MYR 2,360 (MYR 2,351), November at MYR 2,348 (MYR 2,344) and December at MYR 2,346 (MYR 2,340).

The Bombay Commodity Exchange spot rates (Rs/10 kg) were: groundnut oil 830 (830), soya refined oil 650(651), sunflower exp. ref. 725 (735), sunflower ref. 810(815), rapeseed ref. oil 720(718), rapeseed expeller ref. 690 (688) cottonseed ref. oil 660(655) and palmolein 573 (571).

Vikram Global Commodities (P) Ltd quoted Rs 625/10 kg for Malaysia super palmolein - forward delivery.