Edible oils up on millers buying, global cues

Prices of select edible oils continued to rise for the third straight day by adding Rs 20 per quintal in the wholesale oils and oilseeds market today on sustained buying by vanaspati millers supported by a firming trend in overseas markets.

Sentiment remained firm after palm oil climbed in Malaysia on speculation that a dip in output in the biggest producing countries in the next few weeks may lower stockpiles amid a surge in exports.

Meanwhile, palm oil futures for November-delivery advanced 0.7% to $1,014 a tonne on the Malaysia Derivatives Exchange. 

In the national capital, mustard expeller oil (Dadri) and cottonseed mill delivery (Haryana) oils rose by Rs 20 each to 6,020 and Rs 5,570 per quintal, respectively.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils added Rs 20 each to Rs 6,570 and Rs 6,020, respectively, while crude palm oil (ex-kandla) traded higher by the same margin to Rs 5,270 per quintal.

Palmolein (rbd) and palmolein (Kandla) oils were also seen in demand and advanced by Rs 20 each to Rs 5,920 and Rs 5,620 per quintal, respectively.

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) 6,020, 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) 6,570, Soyabean  degum (Kandla) 6,020, Crude Palm Oil (Ex-kandla) 5,270

Cottonseed mill delivery (Haryana) 5,570, Palmolein (RBD) Rs 5,920 Palmolein (Kandla) 5,620, 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