Palmolein oil prices up on global cues

In an otherwise steady wholesale oils and oilseeds market, palmolein oil prices rose by Rs 20 per quintal on firm global cues.   

Traders said buying activity in palmolein oil picked after palm oil advanced to the highest level in almost three years in global market on concern that output in Malaysia, the world’s second-largest producer, may decline after adverse weather affected crops.

Meanwhile, palm oil futures for delivery in April climbed one per cent to $1,295 a metric tonne, the highest since March 2008, on the Malaysia Derivatives Exchange. 

Fresh buying by vanaspati millers along with reports of a firming trend in global markets mainly pushed up palmolein oil prices, traders added. In the national capital, palmolein (rbd) oil rose by Rs 20 to Rs 6,270 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) 7,350, groundnut Solvent refined (per tin) 1,350-1,360, Mustard Expeller (Dadri) 5,900, Mustard Pakki ghani (per tin) 770-925, Mustard kachi ghani (per tin) 925-1,025, Sunflower 6,300, Sesame mill delivery 6,400

soybean Refined mill delivery (Indore) 6,420, Soyabean degum (Kandla) 6,100, Crude Palm Oil (Ex-kandla) 5,700, Cottonseed mill delivery (Haryana) 5,800, Palmolein (RBD) 6,270, Rice bran (phy) 3,750 and Coconut (per tin) 1,500-1,560

Non-edible oils: Linseed 4,600, Mahuwa 4,000, Castor 8,700-8,800, Neem 4,100-4,200, 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