Soyabean, palmolein rise on global cues

Prices of select edible oils-- soyabean and palmolein--rose up to Rs 30 per quintal in the wholesale oils and oilseeds market today on increased buying by vanaspati millers to meet the festive demand.

Trading sentiment boosted after palm oil futures advanced for the second day in Malaysia after rival soybean oil climbed, as demand surged from Asian countries, including India and China as the countries celebrate festivals.

Meanwhile, palm oil futures for the November-delivery contract added one per cent to $813 a metric tonne on the Malaysia Derivatives Exchange.

In the edible section, soyabean refined mill delivery (Indore) and soyabean degum (Delhi) oils up by Rs 30 and Rs 10 to Rs 4,850 and Rs 4,660, while palmolein (rbd) oil added another Rs 10 to Rs 4,920 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) 750-860

Edible oils: Groundnut mill delivery (Gujarat) 8,400, groundnut Solvent refined (per tin) 1,450-1,460, Mustard Expeller (Dadri) 5,200, Mustard Pakki ghani (per tin) 705-860, Mustard kachi ghani (per tin) 860-960, Sunflower 6,300

Sesame mill delivery 5,900, soybean Refined mill delivery (Indore) 4,850 Soyabean degum (Delhi) 4,660, Crude Palm Oil (Ex-kandla) 4,100, Cottonseed mill delivery (Haryana) 4,600, Palmolein (RBD) 4,920, Rice bran (phy) 3,750 and Coconut (per tin) 1,050-1,080

Non-edible oils: Linseed 4,100, Mahuwa 4,050, Castor 7,800-7,900, Neem 3,750-3,850, 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