Palmolein, soyabean oils strengthen on global cues

Palmolein and soyabean oils prices strengthened by Rs 20 per quintal on the wholesale oils and oilseeds market today on increased buying by vanaspati millers, amid a firming trend in global markets.

Sentiments remained upbeat as palm oil gained in global markets on concern that a report will show the nation's farmers are likely to plant less soybeans in favuor of corn, reducing output of the crop used to make a rival cooking oil.

Meanwhile, palm oil futures for the most-active June contract gained 0.%t to $1,103 per tonne in Kuala Lumpur.

In the national capital, Palmolein (rbd) and palmolein (kandla) gained Rs 20 each to Rs 5,640 and Rs 5,350 per quintal.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) also traded Rs 20 each higher at Rs 5,750 and Rs 5,710 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) 7,650, groundnut Solvent refined (per tin) 1,300-1,310, Mustard Expeller (Dadri) 5,480, Mustard Pakki ghani (per tin) 760-915, Mustard kachi ghani (per tin) 915-1,015, Sunflower 6,300, Sesame mill delivery 6,230, soybean Refined mill delivery (Indore) 5,750, Soyabean degum (Kandla) 5,710, Crude Palm Oil (Ex-kandla) 5,060, Cottonseed mill delivery (Haryana) 5,500, Palmolein (RBD)Rs 5,640 Palmolein (Kandla) 5,350, Rice bran (phy) 3,750 and Coconut (per tin) 1,600-1,660.

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