Select edible oils up on global cues, festive demand

An upward trend unabated in edible oil prices and rose up to Rs 100 per quintal in the wholesale oils and oilseeds market today on the back of firming trend overseas and pick up in demand from millers.

Traders said the persistent rise in edible oil prices was attributed to firming trend in Malaysian palm oil, which climbed to over one month high as concerns about weather disrupting harvests prompted funds into buying commodities.

Meanwhile, palm oil futures for December delivery jumped $4 per cent to $880 a metric tonne on the Malaysia Derivatives Exchange, the best level since June 17.

In the edible section, palmolein (rbd) gained another Rs 50 to close at Rs 4,950 per quintal, while crude palm oil (ex-kandla) rose Rs 30 to Rs 4,210 per quintal.

In line with general trend, soyabean refined mill delivery (Indore) shot up by Rs 100 to Rs 4,980 per quintal, soyabean degum (Delhi) gained Rs 50 at Rs 4,700 per quintal. 

Mustard expeller oil prices were up by Rs 20 to Rs 5,420 per quintal on local demand. Its pakki and kachi ghani oils followed suit and gained Rs 5 each at Rs 730-885 and Rs 885- 985 per tin of 15 litre, respectively.

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) 9,000, groundnut Solvent refined (per tin) 1,550-1,560, Mustard Expeller (Dadri) 5,420, Mustard Pakki ghani (per tin) 730-885

Mustard kachi ghani (per tin) 885-985, Sunflower 6,300, Sesame mill delivery 5,850, soybean Refined mill delivery (Indore) 4,980 Soyabean degum (Delhi) 4,700, Crude Palm Oil (Ex-kandla) 4,210

Cottonseed mill delivery (Haryana) 4,650, Palmolein (RBD) 4,950, Rice bran (phy) 3,750 and Coconut (per tin) 1,125-1,155

Non-edible oils: Linseed 4,100, Mahuwa 4,000, Castor 8,200-8,300, Neem 3,800-3,900, 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