Select edible oils up on global cues

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

Castor oil, in the non-edible section, also showed some firmness on increased industrial offtake.

Trading sentiment in edible oils turned better after palm oil advanced to the highest level in more than two months in Malaysia as flooding in crop areas in the US hampered plantings of corn and soybeans.

Meanwhile, palm oil for the August-delivery climbed 0.6% to $1,147 per metric tonne on the Malaysia Derivatives Exchange, the highest since March 21.

Besides, sustained buying by vanaspati millers to meet ongoing marriage season demand, also influenced select wholesale edible oil prices. 

In the national capital, soyabean refined mill delivery (Indore) rose by Rs 50 and soyabean degum (Kandla) oil rose by Rs 20 to Rs 6,350 and Rs 5,950, respectively, while crude palm oil (ex-kandla) gained Rs 20 to Rs 5,400 per quintal.

Palmolein (rbd) and palmolein (kandla) oils too traded higher by Rs 20 each to Rs 5,970 and Rs 5,670 per quintal, respectively. In the non-edible section, castor oil rose by Rs 50 to Rs 8,550-8,650 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) 8,050, groundnut Solvent refined (per tin) 1,425-1,435, Mustard Expeller (Dadri) 5,750, Mustard Pakki ghani (per tin) 760-915, Mustard kachi ghani (per tin) 915-1,015

Sunflower 6,300, Sesame mill delivery 6,270, soybean Refined mill delivery (Indore) 6,350, Soyabean degum (Kandla) 5,950, Crude Palm Oil (Ex-kandla) 5,400

Cottonseed mill delivery (Haryana) 5,570, Palmolein (RBD) Rs 5,970 Palmolein (Kandla) 5,670, Rice bran (phy) 3,750 and Coconut (per tin) 1,600-1,660

Non-edible oils: Linseed 4,600, Mahuwa 4,000, Castor 8,550-8,650, 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