17/06/2014 (Hindu Business Line) - Uptrend in edible oils market continued on Monday on the back of a weak rupee and firm futures. About 1,500-1,600 tonnes of edible oils changed hand during the day. Stockists continued building up inventory before peak monsoon season.

On the Bombay Commodity Exchange, palmolein and cotton refined oil rose by ₹4 and ₹5 respectively for 10 kg. Sunflower and rapeseed oil increased by ₹10-₹15. Groundnut and soyabean refined oil ruled steady. During the day, Liberty sold 250-300 tonnes palmolein at ₹570, Ruchi sold 150-200 tonnes palmolein at ₹570, 150-200 tonnes soyabean refined oil at ₹645 and sunflower refined oil 100-150 tonnes at ₹648. Allana sold 200-250 tonnes palmolein at ₹565 ex-JNPT and soyabean refined oil 200-250 tonnes at ₹645-₹647. Resellers offloaded 150–200 tonnes of palmolein at ₹565.

Vikram Global Commodities Chennai quoted ₹595 for June delivery for 10 kg of Malaysian super palm.

At the end of the day, Liberty was quoting palmolein at ₹570, super palmolein at ₹589 and soyabean refined oil at ₹655 for 15 July. Ruchi was quoting palmolein at ₹572 for July 15, soyabean refined oil at ₹647-₹650 and sunflower refined oil at ₹650-₹652 for July and August. Allana was quoting palmolein at ₹570/₹572 Ex JNPT/Khapoli, soyabean refined oil at ₹650 for July-August and sunflower refined oil at ₹652 for July-August.

In Saurashtra, groundnut oil Telia Tin was up by ₹30 to ₹1,130 (₹1,100) and loose (10 kg) increased by ₹20 to ₹720.

Malaysia crude palm oil July settled higher at MYR 2,440 (MYR 2,433), August at MYR 2,432 (MYR 2,427) and September ended at MYR 2,428 (MYR 2,425).

On the Bombay Commodity Exchange spot rates (₹/10 kg) were: groundnut oil ₹740 (₹740), soya refined oil ₹650 (₹650), sunflower exp ref ₹585 (₹575), sunflower ref ₹650 (₹645), rapeseed ref oil ₹685 (₹670), rapeseed expeller ref ₹655 (₹640) cottonseed ref oil ₹655 (₹650) and palmolein ₹564 (₹560).