08/05/2014 (Hindu Business Line) - Edible oils market ruled steady on Wednesday following slack demand amid range-bound volatility in Malaysian palm oil futures. On the Bombay Commodity Exchange (BCE), soya oil, sunflower oil, rapeseed oil and palmolein ruled unchanged. Groundnut oil and cotton refined oil declined by ₹10 and ₹5 for 10 kg each.

Due to slack retail demand, physical volumes remained lower during the day. Mumbai’s leading refineries together sold hardly 300-400 tonnes of palmolein at ₹595-597 and resellers offloaded about 100-150 tonnes of palmolein at ₹590 ex JNPT for ready and forward delivery. Liberty was quoting palmolein at ₹597, super palmolein ₹607 and soyabean refined oil ₹660. Ruchi quoted palmolein ₹595, soyabean refined oil ₹655 and sunflower refined oil ₹660. Allana was quoting palmolein at ₹595, soyabean refined oil ₹660 and sunflower refined oil ₹660. At Rajkot, groundnut oil Telia tin dropped to ₹1,130 (₹1,150) and loose (10 kg) at ₹710 (₹725).

BCE spot rates (₹/10 kg): groundnut oil 760 (770), soya refined oil 660 (660), sunflower exp. ref. 610 (610), sunflower ref. 660 (665), rapeseed ref. oil 695 (695), rapeseed expeller ref. 665 (665) cottonseed ref. oil 665 (670) and palmolein 595 (595).Our Correspondent