Select edible oils strengthen on sustained buying

Select edible oils rose by up to Rs 30 per quintal in the wholesale oils and oilseeds market today on increased offtake by vanaspati millers, supported by a firming global trend.

A few oils in the non-edible section also showed strength on pick-up in demand from consuming industries.

Traders said sustained buying by vanaspati millers for the ongoing marriage season amid a firming trend in Malaysia mainly helped edible oil prices to strengthen.

Meanwhile, palm oil prices for July delivery increased by 1.2% to $1,094 a metric tonne on the Malaysia Derivatives Exchange, extending yesterday's gain of 1.4%. 

In the national capital, soyabean refined mill delivery (Indore) and soyabean (Kandla) oils strengthened by Rs 30 each to Rs 6,130 and Rs 5,780, respectively, while crude palm oil (ex-kandla) added another Rs 30 to Rs 5,230 per quintal.

Palmolein (rbd) and palmolein (kandla) oils rose further by Rs 20 each to Rs 5,770 and Rs 5,470 per quintal, respectively. 

In the non-edible section, linseed oil rose by Rs 50 to Rs 4,550 per quintal on fresh enquiries from paint industries. Neem oil traded higher by the same margin to Rs 4,050-4,150 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) 6,130, Soyabean degum (Kandla) 5,780, Crude Palm Oil (Ex-kandla) 5,230, Cottonseed mill delivery (Haryana) 5,450, Palmolein (RBD) Rs 5,770 Palmolein (Kandla) 5,470, Rice bran (phy) 3,750 and Coconut (per tin) 1,600-1,660

Non-edible oils: Linseed 4,550, Mahuwa 4,000, Castor 8,450-8,550, 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