27/12/2013 (Hindu Business Line) - Activities in the edible oils market were at a standstill despite prices dropping for the second consecutive day on Thursday. In markets abroad, Malaysian palm oil futures ended mixed amidst with thin volatility on reports of lower palm oil exports this month.

In the physical market, groundnut, soyabean, sunflower and rapeseed oil declined by Rs 5 for 10 kg each, cotton refined oil lost Rs 2. Palmolein ruled unchanged at lower level.

The sentiment in the physical market remained dull in the absence of demand.

Higher selling pressure in producing centres for indigenous oils and improved arrivals of oilseeds kept the market under check. Sources said that despite local refineries slashing their rates for palmolein there were no fresh buyers.

Towards the day’s close, Liberty was quoting palmolein at Rs 576, super palmolein Rs 596, super deluxe palmolein Rs 616, soyabean refined oil Rs 665 and sunflower refined oil Rs 710.

Ruchi quoted palmolein at Rs 575, soyabean refined oil Rs 655 and sunflower refined oil Rs 680. Allana was quoting palmolein at Rs 576, super deluxe Rs 615, soyabean refined oil Rs 665 and sunflower refined oil Rs 700.

In Rajkot, groundnut oil dropped by Rs 20 to Rs 1,270 for telia tin and loose (10 kg) declined to Rs 810 (Rs 825).

Soyabean arrivals were 2.25 lakh bags and prices were Rs 3,600-3,750 in Maharashtra and in Madhya Pradesh it was Rs 3,700-3,850 ex mandi and Rs 3,875-3,950 plant delivery.

Vikram Global Commodities (P) Ltd quoted Rs 642/10 kg for Malaysia super palmolein January delivery.

Malaysia BMD crude palm oil January contracts settled at MYR 2,612 (MYR 2,603), February at MYR 2,626 (MYR 2,617) and March at MYR 2,634 (MYR 2,625).

The Bombay Commodity Exchange spot rates (Rs/10 kg) were: groundnut oil 820 (825), soya refined oil 655 (660), sunflower exp. ref. 625 (630), sunflower ref. 680 (685), rapeseed ref. oil 735 (740), rapeseed expeller ref. 705 (710) cottonseed ref. oil 615 (617) and palmolein 572 (572).