Select edible oils regain strength on fresh buying

Select edible oils staged a comeback to close up to Rs 20 per quintal higher on the wholesale oils and oilseeds market today on the back of buying by vanspati millers and retailers to meet the on-going festive season demand amid a firm global trend.

Traders said sentiments were buoyed after palm oil climbed to a four-month high in Malaysia as grains surged on concerns of Russia halting grain exports for the rest of the year, following the worst drought in at least five decades.

Meanwhile, palm oil futures for October-delivery advanced 1.1 per cent to $841 a metric tonne, the highest level in intra-day trading since March 12 on the Malaysia Derivatives Exchange.

In the edible section, mustard oil gained Rs 20 to Rs 5,270 per quintal on local demand.

Soyabean refined mill delivery (Indore) and soyabean degum (Delhi) rose by Rs 20 and Rs 10 to Rs 4,850 and Rs 4,610, while palmolein (rbd) and crude palm oil (ex-kandla)were up by Rs 10 each to Rs 4,660 and Rs 3,980 per quintal on firming global trend.

Following are today's quotations in Rs per quintal: 

Oilseeds: mustard seed 2,500-2,600 and groundnut seed 2,100-2,850
Vanaspati ghee (15 litres tin) 750-860

Edible oils: Groundnut mill delivery (Gujarat) 8,500, groundnut Solvent refined (per tin) 1,400-1,410, Mustard Expeller (Dadri) 5,270, Mustard Pakki ghani (per tin) 705-860, Mustard kachi ghani (per tin) 860-960

Sunflower 6,300, Sesame mill delivery 5,900, soybean Refined mill delivery (Indore) 4,850 Soyabean degum (Delhi) 4,610, Crude Palm Oil (Ex-kandla) 3,980, Cottonseed mill delivery (Haryana) 4,500, Palmolein (RBD) 4,660, Rice bran (phy) 3,750 and Coconut (per tin) 1,050-1,080

Non-edible oils: Linseed 4,100, Mahuwa 4,000, Castor 7,700-7,800, Neem 3,750-3,850, 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) 1,025-1,050, Mustard 1,200-1,210 and Cottonseed 1,075-1,175