Edible oils up on global cues

Select edible oil prices rose up to Rs 30 per quintal in the wholesale oils and oilseeds market today on emergence of buying, driven by a firming trend at Malaysia.

Trading sentiments turned better as palm oil gained in Malaysia on speculations that an increase in exports from Malaysia last month may prevent a build-up in stockpiles in the world's second-biggest producer.  

Meanwhile, palm oil for the July-delivery contract increased 0.9% to $1,111 a metric tonne on the Malaysia Derivatives Exchange. Traders said fresh buying by millers and reports of a firming trend in Malaysia mainly led to rise in select wholesale edible oil prices. 

In the national capital, palmolein (rbd) and palmolein (kandla) oils rose by Rs 30 each to Rs 5,750 and Rs 5,450 per quintal, respectively.

Soyabean refined mill delivery (Indore) and soyabean degum (kandla) oils also moved up by Rs 20 each to Rs 6,120 and Rs 5,770, respectively. 

Likewise, crude palm oil (ex-kandla) traded higher by the same margin to Rs 5,220 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) 1,065-1,140

Edible oils: Groundnut mill delivery (Gujarat) 8,000, groundnut Solvent refined (per tin) 1,350-1,360, Mustard Expeller (Dadri) 5,400, Mustard Pakki ghani (per tin) 760-915, Mustard kachi ghani (per tin) 915-1,015, Sunflower 6,300, Sesame mill delivery 6,180

soybean Refined mill delivery (Indore) 6,120, Soyabean degum (Kandla) 5,770, Crude Palm Oil (Ex-kandla) 5,220, Cottonseed mill delivery (Haryana) 5,470, Palmolein (RBD) Rs 5,750 Palmolein (Kandla) 5,450, Rice bran (phy) 3,750 and Coconut (per tin) 1,600-1,660

Non-edible oils: Linseed 4,550, Mahuwa 4,000, Castor 8,500-8,600, Neem 4,000-4,100, 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