Select edible oils up on global cues

Select edible oil prices rose by Rs 20 per quintal on the wholesale oils and oilseeds market on increased offtake by vanaspati millers amid a firm global trend.  

Trading sentiment turned better after palm oil advanced to the highest level in three weeks in global markets, tracking  gains in soybean oil, which climbed on a forecast of decline in US stockpiles, and after crude oil jumped to the highest since September 2008. 

Meanwhile, palm oil futures for the June-delivery contract gained 1.6% to $1,144 a metric tonne, the highest since March 21 on the Malaysian Derivatives Exchange.

Traders said pick up in buying by vanaspati millers influenced by a firm global trend mainly pushed up select edible oil prices.

In the national capital, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils strengthened by Rs 20 and Rs 10 to Rs 5,820 and Rs 5,750, while crude palm oil (ex-kandla) added Rs 20 to Rs 5,130 per quintal respectively.  

Palmolein (rbd) and palmolein (Kandla) oils moved up by Rs 20 each to to Rs 5,720 and Rs 5,430 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) 7,650, groundnut Solvent refined (per tin) 1,300-1,310, Mustard Expeller (Dadri) 5,550, Mustard Pakki ghani (per tin) 770-925, Mustard kachi ghani (per tin) 925-1,025, Sunflower 6,300

Sesame mill delivery 6,230, soybean Refined mill delivery (Indore) 5,820, Soyabean degum (Kandla) 5,750, Crude Palm Oil (Ex-kandla) 5,130, Cottonseed mill delivery (Haryana) 5,550, Palmolein (RBD) Rs 5,720 Palmolein (Kandla) 5,430, Rice bran (phy) 3,750 and Coconut (per tin) 1,600-1,660

Non-edible oils: Linseed 4,650, Mahuwa 4,000, Castor 8,600-8,700, 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