Edible oils continue to rise on festive demand

Select edible oils continued their upward march for the third straight day today and added up to Rs 50 per quintal in the oils and oilseeds market on increased buying by vanaspati millers, driven by festive and marriage season.

In addition, firming trend in overseas markets also influenced the trading sentiment.

However, a few oils in the non-edible section, showed weakness owing to reduced demand from consuming industries and traded in a negative zone.

Traders said increased buying by vanaspati millers to meet the ongoing festive season demand amid rising trend in global market mainly led to a rise in edible oil prices. 

In the national capital, groundnut mill delivery (Gujarat) gained Rs 50 to Rs 8,300 per quintal.

Mustard expeller oil (Dadri) rose by Rs 20 to Rs 5,320 per quintal.

Soyabean refined mill delivery (Indore) and soyabean degum (Delhi) oils remained in demand and added Rs 50 and Rs 30 to Rs 4,850 and Rs 4,610, while palmolein (rbd) gained Rs 20 to Rs 4,920 per quintal. 

In the non-edible section, castor oil slipped by Rs 100 to Rs 8,450-8,550 and neem oil lost Rs 50 to Rs 3,700-3,800 per quintal.  

Following are today's quotations in Rs per quintal:

Oilseeds: mustard seed 2,525-2,655 and groundnut seed 2,100-2,850 Vanaspati ghee (15 litres tin) 815-910.

Edible oils: Groundnut mill delivery (Gujarat) 8,300, groundnut Solvent refined (per tin) 1,400-1,410, Mustard Expeller (Dadri) 5,320, Mustard Pakki ghani (per tin) 720-875, Mustard kachi ghani (per tin) 875-975

Sunflower 6,300, Sesame mill delivery 5,850, soybean Refined mill delivery (Indore) 4,850 Soyabean degum (Delhi) 4,610, Crude Palm Oil (Ex-kandla) 4,060, Cottonseed mill delivery (Haryana) 4,500, Palmolein (RBD) 4,920, Rice bran (phy) 3,750 and Coconut (per tin) 1,260-1,310

Non-edible oils: Linseed 4,100, Mahuwa 4,000, Castor 8,450-8,550, Neem 3,700-3,800, Rice bran 3,300-3,400 and palm fatty 3,225-3,300

Oilcakes: groundnut de-husk 800-850, sesame 950-1,150, Mustard (new) 1,000---1,025, Mustard 1,200-1,210 and Cottonseed 1,075-1,175