Edible oils up on seasonal demand, global cues

Edible oil prices strengthened up to Rs 200 per quintal in the oils and oilseeds market today on rising seasonal demand amid firming global trend.

Trading sentiment remained bullish after palm oil advanced for a fourth day in Malaysia, touching the highest price in over two years, on speculation that global demand for vegetable oils will increase.

Meanwhile, palm oil futures for the February-delivery contract gained 1.6 per cent to $1,123 a metric tonne on the Malaysia Derivatives Exchange, the highest price since July 2008.

Pick up in seasonal demand and firming trend in producing regions mainly led to a rise in edible oil prices.

In the national capital, groundnut mill delivery (Gujarat) oil gained the most by rising Rs 200 to Rs 7,300 per quintal, while groundnut solvent refined traded higher by Rs 15 to Rs 1,415-1,425 per tin. 

Mustard expeller oil (Dadri) edged up by Rs 50 to Rs 5,600 per quintal and its pakki and kachi ghani oils traded higher by the Rs 10 each to Rs 760-915 and Rs 915-1,015 per tin.   

Sesame mill delivery and cottonseed mill delivery (Haryana) oils were up by Rs 20 and Rs 30 to Rs 6,170 and Rs 5,250 per quintal.

Sesame mill delivery (Indore) and sesame mill delivery (Kandla) rose by Rs 100 and Rs 150 to Rs 5,800 and Rs 5,400 and crude palm oil (ex-kandla) and palmolein (rbd) oils moved up by Rs 150 and Rs 70 to Rs 5,150 and Rs 5,750 per quintal on firming global trend.

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) 925-960

Edible oils: Groundnut mill delivery (Gujarat) 7,300, groundnut Solvent refined (per tin) 1,415-1,425, Mustard Expeller (Dadri) 5,600, Mustard Pakki ghani (per tin) 760-915, Mustard kachi ghani (per tin) 915-1,015, Sunflower 6,300, Sesame mill delivery 6,170

soybean Refined mill delivery (Indore) 5,800, Soyabean degum (KANDLA) 5,300, Crude Palm Oil (Ex-kandla) 5,150, Cottonseed mill delivery (Haryana) 5,220, Palmolein (RBD) 5,750, Rice bran (phy) 3,750 and Coconut (per tin) 1,240-1,300

Non-edible oils: Linseed 4,350, Mahuwa 4,000, Castor 8,400-8,500, Neem 3,850-3,950, 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) 1,000-1,025, Mustard 1,200-1,210 and Cottonseed 1,075-1,175