Select edible oils strengthen on sustained buying

Wholesale prices of select edible oils strengthened up to Rs 50 per quintal here today on increased buying by vanaspati millers and retailers amid the festive season. 

Marketmen said sentiments remained firm as palm oil continued its rising trend for the fourth straight week after its prices jumped to a five-month high in Malaysia.

Meanwhile, palm oil futures for October-delivery 1.6 per cent to $845 a metric tonne on the Malaysia Derivatives Exchange, the highest level since March 10. Linseed oil in the non-edible section, also showed some strength on increased enquiries from paint industries.

In the edible section, mustard (Dadri) oil remained in local demand and added another Rs 30 to Rs 5,300 per quintal. Mustard pakki and kachi ghani oils traded higher by Rs 5 each to Rs 710-865 and Rs 865-965 per tin. 

Groundnut solvent refined rose by Rs 50 to Rs 1,450-1,460 per tin.

Soyabean refined mill delivery (Indore) and soyabean degum (Delhi) oil strengthened by Rs 20 each to Rs 4,870 and Rs 4,630, while palmolein (rbd) oil traded higher by the same margin at Rs 4,680 per tin on firming global trend.

In the non-edible section, linseed oil rose by Rs 50 to Rs 4,150 per quintal on increased offtake by paint industries.

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) 1,450-1,460, Mustard Expeller (Dadri) 5,300, Mustard Pakki ghani (per tin) 710-865, Mustard kachi ghani (per tin) 865-965, Sunflower 6,300

Sesame mill delivery 5,900, soybean Refined mill delivery (Indore) 4,870 Soyabean degum (Delhi) 4,630, Crude Palm Oil (Ex-kandla) 3,980, Cottonseed mill delivery (Haryana) 4,500, Palmolein (RBD) 4,680, Rice bran (phy) 3,750 and Coconut (per tin) 1,050-1,080

Non-edible oils: Linseed 4,150, 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