Edible oils ruled slightly weak on Tuesday in absence of bulk demand amid weak futures. Malaysian palm oil futures closed lower pushing NCDEX soya oil futures down by ₹2-3 till evening. Lack of demand kept volume thin and prices on BCE unchanged barring groundnut oil which decline by ₹25 tracking bearish Saurashtra market. Morale was bearish as higher supply – selling weigh said sources.
Local refineries have kept their rates steady but activities remained in resells. During the day hardly 300 tonnes palmolein was resold at ₹629-630. Barring that there were no activities.
Liberty: Palmolein Ex Shapur ₹660 for 28 February. Super palmolein ₹680 for 28 February.
Allana: Palmolein Ex Khapoli ₹655 for 28 February. Soya refined oil ₹750 for 28 February. Sunflower refined oil ₹735 for March.
Ruchi: Soya oil ₹730 for 15 February and Sunflower refi.oil ₹725 for 15 February.
Golden agri: Palmolein ₹638 for 20 February.
At Rajkot: groundnut oil Telia Tin dropped to ₹1,320 (₹1,355) and Loose (10 kg) to ₹825 (₹840).
Malaysian crude palm oil, February-18 futures settled lower at MYR 2,481 (MYR 2,500), March-18 at MYR2,475 (MYR 2,494) and April-17 at MYR 2,470 (MYR 2,489).
On NCDEX: Soyabean refined oil February-18 declined to ₹737.30 (₹740.75) and March-18 to ₹743.40 (₹744.80) till evening.
On BCE spot rates (₹/10 kg) were: groundnut oil 870 (895), soya refined oil 725 (725), sunflower exp. ref.