13/11/2013 (Hindu Business Line) - A sharp jump in Malaysian palm oil futures and extended weakness in domestic currency pushed up edible oils prices on Tuesday.

A strong dollar makes imports costlier and local refineries were forced to raise palmolein price by Rs 2-6 for 10 kg.

However, on the Bombay Commodity Exchange, palmolein declined by Re 1 and cotton refined oil dropped by Rs 5. All other edible oils ruled unchanged.

Domestic soya oil futures rose by more than one per cent tracking firm foreign market.

Towards the day’s close, Liberty was quoted palmolein at Rs 620, super palmolein at Rs 650 and super deluxe at Rs 670 and soyabean refined oil at Rs 724 and sunflower refined oil at Rs 790.

Ruchi quoted palmolein at Rs 613 ex-JNPT and Rs 615 ex-Patalganga, soyabean refined oil at Rs 715 and sunflower refined oil at Rs 740. Allana quoted palmolein at Rs 615, super palmolein at Rs 635, super deluxe at Rs 655, soyabean refined oil at Rs 710 and sunflower refined oil at Rs 785.

In Rajkot, groundnut oil declined by Rs 20 to Rs 1,300 for telia tin and loose (10 kg) dropped by Rs 25 to Rs 825.

Vikram Global Commodities (P) Ltd quoted Rs 660/10 kg for Malaysia super palmolein November delivery.

Malaysia BMD crude palm oil December contracts settled higher at MYR 2,597 (MYR 2,530), January at MYR 2,599 (MYR 2,528) and February at MYR 2,601 (MYR 2,531).

The Bombay Commodity Exchange spot rates (Rs/10 kg) were: groundnut oil 860 (860), soya refined oil 715 (715), sunflower exp. ref. 670 (670), sunflower ref. 750 (750), rapeseed ref. oil 765 (765), rapeseed expeller ref. 735 (735) cottonseed ref. oil 675 (680) and palmolein 604 (605).