Select edible oils strengthen on global cues

Select edible oil prices strengthened by Rs 10 per quintal on the wholesale oils and oilseeds market today on scattered buying by vanaspati millers for the ongoing marriage season, amid firming global trend.  

Sentiments turned better after palm oil advanced in global markets as rising crude prices increased the appeal of vegetable oils used in biofuels.

Traders said increased offtake by vanaspati millers to meet the ongoing marriage season amid firm global trends mainly helped select edible oil prices to strengthen.

Meanwhile, palm oil futures for the May delivery climbed 1.3% to $1,204 a tonne on the Malaysian Derivatives Exchange.

In the national capital, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) rose by Rs 10 each to Rs 6,300 and Rs 5,920, respectively, while crude palm oil (ex-kandla) traded higher by the same margin to Rs 5,420 per quintal.

Palmolein (rbd) and palmolein (Kandla) were also moved up by Rs 10 each to Rs 5,970 and Rs 5,770 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) 7,400, groundnut Solvent refined (per tin) 1,300-1,310, Mustard Expeller (Dadri) 6,000, Mustard Pakki ghani (per tin) 770-925, Mustard kachi ghani (per tin) 925-1,025

Sunflower 6,300, Sesame mill delivery 6,400, soybean Refined mill delivery (Indore) 6,300, Soyabean degum (Kandla) 5,920, Crude Palm Oil (Ex-kandla) 5,420, Cottonseed mill delivery (Haryana) 5,750

Palmolein (RBD) Rs 5,970 Palmolein (Kandla) 5,770, Rice bran (phy) 3,750 and Coconut (per tin) 1,500-1,560

Non-edible oils: Linseed 4,600, Mahuwa 4,000, Castor 8,700-8,800, 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