Select edible oils up on fresh buying, firm global trend

Cheerful conditions prevailed in the wholesale oils and oilseed market today, as select edible oil rose upto Rs 50 per quintal on brisk buying by vanaspati millers to meet the ongoing marriage season demand.

A firming trend in international markets further supported the uptrend, particularly in soybean and palm oil prices.

Marketmen said, heavy purchases by vanaspati millers to meet the ongoing marriage season demand and reports of a firming trend in Malaysia mainly pushed up edible oils.

They said reports of record number of marriages on Sunday mainly wiped off most of the stocks in the wholesale markets and helped in pushing up the prices.

There were record 20,000 marriages in the national capital on Akshya Tritiya, one of the most auspicious day in Hindu mythology, they said. Meanwhile, palm oil futures gained 0.7 per cent to 2,441 ringgit a metric tonne on the Malaysia Derivatives Exchange.

In the edible section, groundnut mill delivery (Gujarat) rose by Rs 50 to Rs 6,900 per quintal, while groundnut solvent refined traded higher by Rs 5 to Rs 1,140-1,150 per tin.

Soyabean refined mill delivery (Indore) and crude palm oil (Ex-kandla) went up by Rs 40 each to Rs 4,450 and Rs 3,650 while palmolein (rbd) gained Rs 20 to Rs 4,120 per quintal.

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) 720-830

Edible oils:
Groundnut mill delivery (Gujarat) 6,900, groundnut Solvent refined (per tin) 1,140-1,150, Mustard Expeller (Dadri) 4,500, Mustard Pakki ghani (per tin) 640-795, Mustard kachi ghani (per tin) 795-895, Sunflower 6,300, Sesame mill delivery 5,800

Soybean Refined mill delivery (Indore) 4,450 Soyabean degum (Delhi) 4,320, Crude Palm Oil (Ex-kandla) 3,650, Cottonseed mill delivery (Haryana) 4,000, Palmolein (RBD) 4,120, Rice bran (phy) 3,750 and Coconut (per tin) 960-990

Non-edible oils:
Linseed 4,000, Mahuwa 4,000, Castor 6,450-6,550, Neem 3,600-3,700, Rice bran 3,200-3,300 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.