Edible oils up on festive demand, global cues

Edible oil prices rose upto Rs 150 per quintal in the wholesale oils and oilseed market today on rising demand in view of festive season amid firming global trend. A few oils in the non-edible section, also showed some strength on increased demand from consuming industries. 

Marketmen said rising demand from vanaspati millers and retailers in view of festive season amid firming global trend mainly pushed up wholesale edible oil prices.

Trading sentiment turned better after palm oil climbed in Malaysia on concern that supplies of the world's cheapest edible oil may lag behind demand as heavy rains in Asia connected with the La Nina weather event could disrupt production.

Meanwhile, palm oil futures for October delivery rose one per cent to $848 a metric tonne on the Malaysia Derivatives Exchange. 

In the edible section, mustard expeller oil (Dadri) rose by Rs 50 to Rs 5,350 per quintal while mustard pakki and kachi ghani oils traded higher by Rs 5 each to Rs 715-870 and Rs 870-970 per tin.

Cottonseed mill delivery oil (Haryana) moved up by Rs 100 to Rs 4,600 per quintal.

Soyabean refined mill delivery (Indore) and soyabean degum (Delhi) oils moved up by Rs 150 and Rs 20 to Rs 5,100 and Rs 4,680, while crude palm oil (ex-kandla)and palmolein (rbd) gained Rs 120 each to Rs 4,100 and Rs 4,800 per quintal on firming global trend.

In the non-edible section, linseed oil gained Rs 50 to Rs 4,200 per quintal on fresh enquiries from paint industries.

Castor oil also traded higher by Rs 50 to Rs 7,750-7,850 per quintal.

Following are today's quotations in Rs per quintal:

Oilseeds: mustard seed 2,500-2,600 and groundnut seed 2,100-2,850
Vanaspati ghee (15 litres tin) 750-860

Edible oils: Groundnut mill delivery (Gujarat) 8,500, groundnut Solvent refined (per tin) 1,450-1,460, Mustard Expeller (Dadri) 5,350, Mustard Pakki ghani (per tin) 715-870, Mustard kachi ghani (per tin) 870-970, Sunflower 6,300

Sesame mill delivery 5,900, soybean Refined mill delivery (Indore) 5,100 Soyabean degum (Delhi) 4,680, Crude Palm Oil (Ex-kandla) 4,100, Cottonseed mill delivery (Haryana) 4,600, Palmolein (RBD) 4,800, Rice bran (phy) 3,750 and Coconut (per tin) 1,050-1,080

Non-edible oils: Linseed 4,200, Mahuwa 4,000, Castor 7,750-7,850, Neem 3,750-3,850, 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) 1,025-1,050, Mustard 1,200-1,210 and Cottonseed 1,075-1,175