Soyabean, palmolein rise on firm global cues

Select edible oils led by soyabean and palmolein rose Rs 20 per quintal in the wholesale oils and oilseeds market today on emergence of buying by vanaspati millers amid firming global trend.

Trading sentiment turned better after palm oil rose for the first time in six days in Malaysia, amid concern the Argentine supply of soybeans and soybean oil may be affected by a port strike.

Meanwhile, palm oil futures for August delivery rose 0.7 per cent to $736 a metric tonne on the Malaysia Derivatives Exchange. Traders said fresh buying from vanaspati millers in tandem with a firming global trend led to a rise in select wholesale edible oil prices.

Soyabean refined mill delivery (Indore) and soyabean degum (Delhi) rose by Rs 20 each to Rs 4,420 and Rs 4,320 per quintal. Palmolein (rbd) and crude palm oil (ex-kandla) also traded higher by the same margin at Rs 4,180 and Rs 3,720 per quintal.

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) 7,100, groundnut Solvent refined (per tin) 1,160-1,170, 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 5,800

Soybean Refined mill delivery (Indore) 4,420 Soyabean degum (Delhi) 4,320, Crude Palm Oil (Ex-kandla) 3,720, Cottonseed mill delivery (Haryana) 4,020, Palmolein (RBD) 4,180, Rice bran (phy) 3,750 and Coconut (per tin) 960-990

Non-edible oils: Linseed 3,950, Mahuwa 4,000, Castor 6,850-6,950, Neem 3,600-3,700, 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