04/04/2014 (Hindu Business Line) - A contrasting trend was witnessed in palm oil and soya oil prices on Thursday. On the NCDEX, soya oil futures rose by ₹5-6 but on the spot, it ruled steady in absence of demand. On Bombay Commodity Exchange, palmolein dropped by ₹3. Soya oil, groundnut and sunflower oil were unchanged, while cotton and rapeseed oil increased by ₹6 and ₹3 for 10 kg each. The volume remained lower compared with the previous day as stockists kept away as the market was volatile.

Sources said that in physical market about 650-700 tonnes of palmolein were traded. Vikram Global Commodities (P) Ltd quoted ₹640/10 kg for Malaysia super palmolein April delivery. Liberty sold at ₹620 and resellers offloaded at ₹615 ex-JNPT. Liberty was quoting palmolein at ₹625, super palmolein ₹645 and soyabean refined oil ₹662. Ruchi quoted palmolein ₹623, soyabean refined oil ₹665 and sunflower refined oil ₹690. Allana was quoting palmolein at ₹620, soyabean refined oil ₹665 and sunflower refined oil ₹700. Kamani was quoting palmolein at ₹625, super palmolein ₹645, super deluxe palmolein ₹675 and sunflower ₹700.

At Rajkot, groundnut oil telia tin was steady at ₹1,160 and loose (10 kg) at ₹740. Malaysia BMD crude palm oil’s futures April contracts settled lower at MYR 2,675 (MYR 2,713), May MYR 2,648 (MYR 2,667) and June MYR 2,634 (MYR 2,648).

Bombay Commodity Exchange spot rates (₹/10 kg) were: groundnut oil 770 (770), soya refined oil 665 (655), sunflower exp. ref. 610 (610), sunflower ref. 685 (685), rapeseed ref. oil 693 (690), rapeseed expeller ref. 663 (660) cottonseed ref. oil 670 (664) and palmolein 615 (618).