Palmolein, soyabean oils up on global cues

Palmolein and soyabean oil prices moved up by Rs 20 per quintal in the wholesale oils and oilseeds market today on the back of increased buying by vanaspati millers.  

Firming global trend also influenced the prices of select edible oil.  

Traders said buying by vanaspati millers to meet the ongoing marriage season demand along with a firming trend in Malaysia led to the increase in select edible oil prices.

Meanwhile, palm oil for July delivery gained 2.1% to $1,097 a metric tonne on the Malaysia Derivatives Exchange.

In the national capital, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) strengthened by Rs 20 each to Rs 6,170 and Rs 5,820 per quintal, respectively. Palmolein (rbd) and palmolein (kandla) oils added another Rs 20 each to Rs 5,840 and Rs 5,540, respectively.

Crude palm oil (ex-kandla) rose by the same margin to Rs 5,270 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) 8,000, groundnut Solvent refined (per tin) 1,350-1,360, Mustard Expeller (Dadri) 5,350, Mustard Pakki ghani (per tin) 750-905, Mustard kachi ghani (per tin) 905-1,005

Sunflower 6,300, Sesame mill delivery 6,180, soybean Refined mill delivery (Indore) 6,170, Soyabean degum (Kandla) 5,820, Crude Palm Oil (Ex-kandla) 5,270, Cottonseed mill delivery (Haryana) 5,450

Palmolein (RBD) Rs 5,840 Palmolein (Kandla) 5,540, Rice bran (phy) 3,750 and Coconut (per tin) 1,600-1,660

Non-edible oils: Linseed 4,550, Mahuwa 4,000, Castor 8,500-8,600, 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