Edible oils up on millers buying, global cues

Edible oil prices rose upto Rs 80 per quintal in the wholesale oils and oilseeds market in the national capital today on continued buying by vanaspati millers amid firming global trend. Castor and neem oils in the non-edible section, also showed some strength on increased industrial offtake.

Sentiment remained firm in the edible section, as palm oil rose from the lowest-level in almost eight months in Malaysia amid concern wet weather in the US may affect soybean plantation, crushed to make a substitute oil.

Meanwhile, palm oil futures for September delivery rose by 1.4 per cent to $727 a metric tonne on the Malaysia Derivatives Exchange. Marketmen said apart from increased offtake by vanaspati units, firming trend in global markets also influenced the select edible oil prices in the national capital.

In the edible section, soyabean refined mill delivery (Indore) and soyabean degum (Delhi) strengthened by Rs 70 and Rs 20 to Rs 4,500 and Rs 4,320, while palmolein (rbd) and crude palm oil (ex-kandla) added Rs 80 and Rs 50 to Rs 4,200 and Rs 3,650 per quintal on firming global trend.

Cottonseed mill delivery (Haryana) rose by Rs 30 to Rs 4,200 per quintal. In the non-edible section, castor and rice bran oils moved up by Rs 100 each to Rs 7,300-7,400 and Rs 3,300-3,400 per quintal on increased demand from consuming industries.

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) 720-830

Edible oils: Groundnut mill delivery (Gujarat) 7,600, groundnut Solvent refined (per tin) 1,270-1,280, Mustard Expeller (Dadri) 4,920, Mustard Pakki ghani (per tin) 685-840, Mustard kachi ghani (per tin) 840-940, Sunflower 6,300, Sesame mill delivery 5,850, Soybean Refined mill delivery (Indore) 4,500 Soyabean degum (Delhi) 4,320

Crude Palm Oil (Ex-kandla) 3,650, Cottonseed mill delivery (Haryana) 4,200, Palmolein (RBD) 4,200, Rice bran (phy) 3,750 and Coconut (per tin) 1,020-1,050

Non-edible oils: Linseed 3,950, Mahuwa 4,000, Castor 7,300-7,400, 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) 1,025-1,050, Mustard 1,200-1,210 and Cottonseed 1,075-1,175