30/12/2011 (Hindu Business Line) - Most edible oils gained here despite crude palm oil (CPO) futures dropping on the Bursa Malaysia Derivatives (BMD) Exchange on Thursday.

Palmolein rose by Re 1, soya refined and sunflower oil by Rs 5 each, rapeseed oil Rs 8 and cotton refined oil by Rs 11 for 10 kg. About 550-600 tonnes of palmolein changed hands, including about 150- 200 tonnes traded by resellers at Rs 594-599. Gujarat-based Gokul sold nearly 400 tonnes at Rs 600-604 for February delivery.

Tracking weak forign markets, local refiners reduced prices of palmolein and soya oil by Rs 2-5 in the evening. CPO futures fell, in line with other commodities and equities, amid worries over euro-zone debt. Liberty offered palmolein at Rs 604-606 for January delivery and at Rs 606-608 for February delivery, and super palmolein at Rs 625. Ruchi quoted palmolein at Rs 604-606 for January delivery and at Rs 605-507 for February delivery, soya refined oil at Rs 685 and sunflower refined oil at Rs 718. Allana offered palmolein at Rs 605. In Saurashtra and Rajkot, cotton oil was sold at Rs 633-635, and groundnut oil was sold at Rs 1,510 (Rs 1,515) for a telia tin and at Rs 985 (Rs 985) for loose (10 kg).

Malaysia's BMD CPO's January contracts settled lower at MYR3,147 (MYR3,157) and February at MYR3,148 (MYR3,185) a tonne. Soya oil for January delivery was up at Rs 722 (Rs 723.20) and for February fell to Rs 717.70 (Rs 722) on the National Board of Trade in Indore.

Bombay Commodity Exchange spot rates (Rs/10 kg): groundnut oil — 985 (985), soya refined oil — 690 (685), sunflower exp. ref. — 665 (660), sunflower ref. — 725 (730), rapeseed ref. oil — 810 (802), rapeseed expeller ref. — 780 (772), cotton ref. oil — 659 (648) and palmolein — 602 (601).