Select edible oils up on millers buying, global cues

Select edible oil prices rose by up to Rs 50 per quintal in the wholesale oils and oilseeds market today on fresh buying by vanaspati millers, supported by a firming global trend.   

Sentiment turned better after palm oil rebounded in global markets on concern that deteriorating soybean crop conditions in the US may boost demand for the tropical commodity used in food and biofuels.

Meanwhile, palm oil for the October-delivery contract climbed 0.6% to $1,054 a tonne on the Malaysia Derivatives Exchange.  

Traders said besides increased buying by vanaspati millers on pick-up in retailers demand, firming trend overseas further fueled the uptrend.

In the national capital, soyabean refined mill delivery (Indore)and soyabean degum (Kandla) oils rose by Rs 50 each to Rs 6,450 and Rs 5,950, respectively. Crude palm oil (ex-kandla) traded higher by Rs 30 to Rs 5,250 per quintal. 

 Palmolein (rbd) and palmolein (kandla) oils moved up by Rs 50 each to Rs 5,950 and Rs 5,650 per quintal, respectively.

Following were today's quotations:

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) 8,500, groundnut Solvent refined (per tin) 1,450-1,460, Mustard Expeller (Dadri) 6,000, Mustard Pakki ghani (per tin) 755-910, Mustard kachi ghani (per tin) 910-1,010

Sunflower 6,300, Sesame mill delivery 6,250, soybean Refined mill delivery (Indore) 6,450, Soyabean  degum (Kandla) 5,950, Crude Palm Oil (Ex-kandla) 5,250, Cottonseed mill delivery (Haryana) 5,580

Palmolein (RBD) Rs 5,950 Palmolein (Kandla) 5,650, Rice bran (phy) 3,750 and Coconut (per tin) 1,700-1,760

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