Palmolein, soyabean oil up on global cues

Palmolein and soyabean oil prices rose by Rs 20 per quintal in the wholesale oils and oilseeds market today on fresh buying by millers amid a firming global trend. 

Trading sentiments turned better as palm oil advanced in Malaysia after its discount to rival soybean oil widened, increasing the appeal of the tropical oil for use in food and fuels.

Meanwhile, palm oil futures for delivery in July gained 1.1% to $1,091 a metric tonne on the Malaysia Derivatives Exchange.

In the national capital, palmolein (rbd) and palmolein (kandla) oils rose by Rs 20 each to Rs 5,720 and Rs 5,420 per quintal, respectively.

Soyabean refined mill delivery (Indore) and crude palm oil (ex-kandla) oils also moved up by Rs 20 each to Rs 6,120 and Rs 5,820 per quintal, respectively. 

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) 8,000, groundnut Solvent refined (per tin) 1,350-1,360, Mustard Expeller (Dadri) 5,400, Mustard Pakki ghani (per tin) 760-915, Mustard kachi ghani (per tin) 915-1,015, Sunflower 6,300, Sesame mill delivery 6,200

soybean Refined mill delivery (Indore) 6,120, Soyabean degum (Kandla) 5,820, Crude Palm Oil (Ex-kandla) 5,100, Cottonseed mill delivery (Haryana) 5,500, Palmolein (RBD) Rs 5,720 Palmolein (Kandla) 5,420, Rice bran (phy) 3,750 and Coconut (per tin) 1,600-1,660

Non-edible oils: Linseed 4,600, Mahuwa 4,000, Castor 8,550-8,650, 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