04/06/2014 (Hindu Business Line) - Bearish futures markets and lack of physical demand dragged edible oils prices on Tuesday. In Mumbai, groundnut oil dropped by ₹10 for 10 kg, while palmolein, rapeseed and cotton refined oil declined by ₹3 on higher selling. Soyabean and sunflower oil ruled steady. During the day, Liberty and Ruchi sold about 350-400 tonnes of palmolein at ₹555. Resellers offloaded 50-60 tonnes of palmolein at ₹553-555, said sources. Toward’s the day’s close, Liberty was quoting palmolein at ₹560, super palmolein at ₹572 and soyabean refined oil at ₹660 for July 10. Ruchi was quoting palmolein at ₹557. Allana was quoting palmolein at ₹555-558 ex JNPT/Khapoli; soyabean refined oil at ₹662; and sunflower refined oil at ₹667. In Saurashtra, groundnut oil Telia Tin was steady at ₹1,070 (₹1,070) and loose (10 kg) at ₹680 (₹680).

Malaysia crude palm oil June contracts settled lower at MYR 2,400 (MYR 2,422) and July at MYR 2,395 (MYR 2,420) and August at MYR 2,387 (MYR 2,416).

On the Bombay Commodity Exchange spot rates (₹/10 kg) were: groundnut oil 735 (745), soya refined oil 655 (655), sunflower exp. ref. 575 (575), sunflower ref. 660 (660), rapeseed ref. oil 665 (668), rapeseed expeller ref. 635 (638) cottonseed ref. oil 632 (635) and palmolein 553 (556).