Edible oils remain firm on global cues

Supported by a firming trend overseas and increased offtake by millers, edible oil prices rose further up to Rs 200 per quintal on the wholesale oils and oilseeds market today.   

A few oils in the non-edible section, also showed some strength on increased demand from consuming industries.

Buying activity in edible oils gathered momentum as palm oil gained in global markets. Meanwhile, palm oil for for September delivery climbed 1.8% to $1,039 per tonne on the Malaysian Derivatives Exchange.

In additions,  increased buying by vanaspati millers and retailers to meet the ongoing marriage season demand also attributed the rise in edible oil prices, traders said.

In the national capital, groundnut mill delivery oil (Gujarat) shot up by Rs 200 to Rs 8,400 per quintal, while groundnut solvent refined gained Rs 25 to Rs 1,425-1,435 per tin. Mustard expeller oil (Dadri) edged up by Rs 20 to Rs 5,700 per quintal. 

Taking cues from firming overseas markets, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils rose by Rs 50 each to Rs 6,200 and Rs 5,800, while crude palm oil (ex-kandla) traded higher by the same margin to Rs 5,200 per quintal, respectively. 

Palmolein (rbd) and palmolein (kandla) oils also moved up by Rs 50 each to Rs 5,750 and Rs 5,450 per quintal, respectively.  

In the non-edible section, linseed oil rose by Rs 50 to Rs 4,600 per quintal on fresh enquiries from paint's industries. Neem oil moved up by Rs 50 to Rs 4100-4200 per quintal.

Following are today's quotations per quintal:  

Oilseeds: mustard seed 2,525-2,655 and Groundnut seed 2,100-2,850
Vanaspati ghee (15 litres tin) 1,065-1,140

Edible oils: Groundnut mill delivery (Gujarat) 8,400, groundnut Solvent refined (per tin) 1,425-1,435, Mustard Expeller (Dadri) 5,700, Mustard Pakki ghani (per tin) 755-910, Mustard kachi ghani (per tin) 910-1,010, Sunflower 6,300, Sesame mill delivery 6,150

Soybean refined mill delivery (Indore) 6,200, Soyabean  degum (Kandla) 5,800, Crude Palm Oil (Ex-kandla) 5,200, Cottonseed mill delivery (Haryana) 5,440, Palmolein (RBD) Rs 5,750 Palmolein (Kandla) 5,450, Rice bran (phy) 3,750 and Coconut (per tin) 1,700-1,760

Non-edible oils: Linseed 4,600, Mahuwa 4,000, Castor 8,450-8,550, Neem 4,100-4,200, Rice bran 3,300-3,400 and palm fatty 3,225-3,300

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