Select edible oils strengthen on global cues

Select edible oil prices rose by up to Rs 50 per quintal in the wholesale oils and oilseeds market today following increased buying by vanaspati millers along with higher Malaysian advices. 

A few oils in the non-edible section also advanced on increased offtake by industrial units and other consuming industries.

Traders said increased buying by vanaspati millers in the wake of firming trend at Malaysia mainly pushed up select wholesale edible oil prices.

Meanwhile, palm oil for the August-delivery increased 1.7% to $1,108 per metric tonne on the Malaysia Derivatives Exchange, the highest level since April 25.

In the national capital, palmolein (rbd) and palmolein (Kandla) remained in demand and advanced by Rs 20 each to Rs 5,920 and Rs 5,620 per quintal, respectively.

Mustard expeller oil (Dadri) added Rs 50 to Rs 5,600, while sesame and cottonseed mill delivery oils gained Rs 20 each to Rs 6,250 and Rs 5,520 per quintal, respectively.

In the non-edible section, neem oil rose by Rs 50 to Rs 4,100-4,200 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) 1,400-1,410, Mustard Expeller (Dadri) 5,600, Mustard Pakki ghani (per tin) 760-915, Mustard kachi ghani (per tin) 915-1,015

Sunflower 6,300, Sesame mill delivery 6,250, soybean Refined mill delivery (Indore) 6,250, Soyabean degum (Kandla) 5,900, Crude Palm Oil (Ex-kandla) 5,350, Cottonseed mill delivery (Haryana) 5,520

Palmolein (RBD) Rs 5,920 Palmolein (Kandla) 5,620, Rice bran (phy) 3,750 and Coconut (per tin) 1,600-1,660

Non-edible oils: Linseed 4,600, Mahuwa 4,000, Castor 8,500-8,600, Neem 4,100-4,200, 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