Palmolein, soyabean oils strengthen on global cues

Palmolein and soyabean oils strengthened by Rs 20 per quintal in the wholesale oils and oilseeds market today on sustained buying by vanaspati millers influenced by a firming global trend.   

Sentiments remained firm as palm oil climbed in global markets on speculation that worsening soybean crop conditions in the US will boost its demand. Meanwhile, palm oil for the October-delivery contract climbed 0.6% to $1,067 a tonne on the Malaysia Derivatives Exchange. 

In the national capital, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils remained in demand and advanced by Rs 20 each to Rs 6,470 and Rs 5,970 per quintal, respectively.

Palmolein (rbd) and palmolein (kandla) oils followed suit and added another Rs 20 each to Rs 5,970 and Rs 5,670 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) 6,000, Mustard Pakki ghani (per tin) 755-910, Mustard kachi ghani (per tin) 910-1,010, Sunflower 6,300, Sesame mill delivery 6,250

soybean Refined mill delivery (Indore) 6,470, Soyabean  degum (Kandla) 5,970, Crude Palm Oil (Ex-kandla) 5,250, Cottonseed mill delivery (Haryana) 5,580, Palmolein (RBD) Rs 5,970 Palmolein (Kandla) 5,670, Rice bran (phy) 3,750 and Coconut (per tin) 1,700-1,760

Non-edible oils: Linseed 4,550, Mahuwa 4,000, Castor 8,450-8,550, 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