Edible oils remain up on sustained buying

Amid firming global trend, sustained buying by vanaspati millers, edible oil prices rose further by up to Rs 50 per quintal in the wholesale oils and oilseeds market today. 

Neem oil in the non-edible section, also showed some strength on increased offtake by soap and other consuming industries.

Trading sentiment in edible oils remained firm after palm oil advanced for the third day in global markets as demand for the tropical oil, used in food and biofuels, was seen rising amid tightening supply of competing vegetable oils.

Meanwhile, palm oil prices gained 1.1% to $1,008 a tonne on the Malaysia Derivatives Exchange. 

In the national capital, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils strengthened by Rs 50 and Rs 25 to Rs 6,500 and Rs 5,950, respectively. 

Crude palm oil (ex-kandla) traded higher by Rs 25 to Rs 5,225 per quintal. Palmolein (rbd) and palmolein (Kandla) oils followed suit and edged up by Rs 25 each to Rs 5,875 and Rs 5,575 per quintal, respectively. 

In the non-edible section, neem oil rose by Rs 50 to Rs 4,050-4,150 per quintal.

Following were today's quotations: 

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) 8,500, groundnut Solvent refined (per tin) 1,450-1,460, Mustard Expeller (Dadri) 6,000, Mustard Pakki ghani (per tin) 760-915, Mustard kachi ghani (per tin) 915-1,015

Sunflower 6,300, Sesame mill delivery 6,250, soybean Refined mill delivery (Indore) 6,500, Soyabean  degum (Kandla) 5,950, Crude Palm Oil (Ex-kandla) 5,225, Cottonseed mill delivery (Haryana) 5,550

Palmolein (RBD) Rs 5,875 Palmolein (Kandla) 5,575, Rice bran (phy) 3,750 and Coconut (per tin) 1,720-1,780

Non-edible oils: Linseed 4,500, Mahuwa 4,000, Castor 8,400-8,500, Neem 4,050-4,150, 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