Edible oils up on millers buying, global cues

A rising trend remained unabated for the third straight day in the wholesale oils and oilseeds market today, as prices rose by Rs 250 per quintal on increased buying by vanaspati millers and retailers. 

Buying activity picked up among traders in view of coming festival season amid rising trend in overseas markets. Trading sentiment boosted after palm oil gained to the highest level in more than two months in Malaysia.

Marketmen said persistent buying by vanaspati millers to meet the coming festive demand and reports of a rising trend in global markets mainly led to a rise in select wholesale edible oil prices.

In the national capital, groundnut mill delivery oil (Gujarat) gained the most by rising Rs 250 to Rs 8,250 per quintal, groundnut solvent refined moved up by Rs 25 to Rs 1,375-1,385 per tin.

Mustard expeller oil (Dadri) oil jumped up by Rs 180 to Rs 5,250 per quintal and its mustard pakki and kachi ghani oil gained Rs 10 each to Rs 700-855 and Rs 855-955 per tin. Cottonseed mill delivery oil (Haryana) rose by Rs 100 to Rs 4,500 per quintal.

Soyabean refined delivery (Indore) and soyabean degum (Delhi) strengthened further by Rs 140 each to Rs 4,800 and Rs 4,600, while crude palm oil (ex-kandla) and palmolein (rbd) were up by Rs 100 each to Rs 3,870 and Rs 4,510 per quintal on a firming global trend.

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) 8,250, groundnut Solvent refined (per tin) 1,375-1,385, Mustard Expeller (Dadri) 5,250, Mustard Pakki ghani (per tin) 700-855, Mustard kachi ghani (per tin) 855-955, Sunflower 6,300, Sesame mill delivery 5,870

soybean Refined mill delivery (Indore) 4,800 Soyabean degum (Delhi) 4,600, Crude Palm Oil (Ex-kandla) 3,870, Cottonseed mill delivery (Haryana) 4,500, Palmolein (RBD) 4,510, Rice bran (phy) 3,750 and Coconut (per tin) 1,030-1,060

Non-edible oils: Linseed 4,000, Mahuwa 4,000, Castor 7,600-7,700, 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