20/03/2014 (Hindu Business Line) - Sentiments in the edible oils market turned better in second half of day, tracking firm reports from the markets abroad and sharp gains in domestic futures. On the Bombay Commodity Exchange, palmolein rose by ₹5, while soyabean refined oil futures jumped over one per cent on the NCDEX. Sunflower and cotton refined oil dropped by ₹5 in spot. Trading activities witnessed sharp jump as stockists came forward with fresh orders. On Wednesday, resellers sold 350-400 tonnes of palmolein at ₹630-631 and local industries sold 450-500 tonnes at ₹642-643 for April. Indigenous edible oils were under pressure on hope of higher arrivals of oilseeds in producing centres after Holi.

Liberty was quoting palmolein at ₹645, super palmolein ₹665, super deluxe palmolein ₹685. Ruchi quoted palmolein at ₹645, soyabean refined oil ₹677 and sunflower refined oil ₹700. Allana was quoting palmolein at ₹645, soyabean refined oil ₹677 and sunflower refined oil ₹710.

At Rajkot, groundnut oil was up ₹5 on renewed demand. Rates for telia tin was ₹1,170 and ₹745 for loose (10 kg). Malaysia BMD crude palm oil’s futures April contracts settled higher at MYR 2,871 (MYR 2,839), May settled up at MYR 2,812 (MYR 2,767) and June at MYR 2,777 (MYR 2,737).

The Bombay Commodity Exchange spot rates (₹/10 kg): groundnut oil 770 (770), soya refined oil 670 (675), sunflower exp. ref. 650 (655), sunflower ref. 705 (710), rapeseed ref. oil 710 (710), rapeseed expeller ref. 680 (680) cottonseed ref. oil 670 (675) and palmolein 632(627).