Soyabean, palmolein oil up on firm global trend

Prices of soyabean and palmolein oils rose upto Rs 20 per quintal in the wholesale oils and oilseeds market today on fresh buying by vanaspati millers amid firming global trend. Castor and neem oil in the non-edible section, also showed some improvement on industrial demand.

Traders said fresh buying by vanaspati millers and reports of a rising trend in Malaysia led to a rise in wholesale soyabean and palmolein prices. Meanwhile, palm oil futures for September delivery gained 0.7 per cent to $741 a metric tonne on the Malaysia Derivatives Exchange.

In the edible section, soyabean refined mill delivery (Indore) and soyabean degum (Delhi) rose by Rs 20 and Rs 10 to Rs 4,450 and Rs 4,350, while palmolein (rbd) gained Rs 20 to Rs 4,190 per quintal. Sesame mill delivery also went up by Rs 30 to Rs 5,850 per quintal.

In the non-edible section, castor and neem oils gained Rs 50 each to Rs 7,000-7100 and Rs 3,650-3,750 per quintal, 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) 720-830

Edible oils: Groundnut mill delivery (Gujarat) 7,350, groundnut Solvent refined (per tin) 1,220-1,230, Mustard Expeller (Dadri) 4,750, Mustard Pakki ghani (per tin) 665-820, Mustard kachi ghani (per tin) 820-920, Sunflower 6,300, Sesame mill delivery 5,850, Soybean Refined mill delivery (Indore) 4,450 Soyabean degum (Delhi) 4,350, Crude Palm Oil (Ex-kandla) 3,700, Cottonseed mill delivery (Haryana) 4,080, Palmolein (RBD) 4,190, Rice bran (phy) 3,750 and Coconut (per tin) 1,020-1,050

Non-edible oils: Linseed 4,000, Mahuwa 4,000, Castor 7,000-7,100, Neem 3,650-3,750, 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