Edible oils end higher on millers, retailers buying

Edible oil prices rose on the wholesale oils and oilseeds market during the week on increased buying by vanaspati millers and retailers to meet the rising demand.
Castor oil in the non-edible section, also moved up on increased industrial offtake.
Traders said increased buying by vanaspati millers and retailers to meet rising demand mainly led to the rise in edible oil prices.
Besides, deprecating rupee against the dollar which make the imports of edible oils costlier also influenced the sentiment, they said.
Meanwhile, the country's vegetable oils import rose 13 per cent to 10.33 lakh tonnes in May on account of increase in shipments of edible oils, industry body SEA said.

Vegetable oils import stood at 9.17 lakh tonnes in the same month of the previous year, it said.

In the national capital, mustard expeller (Dadri) and cottonseed mill delivery (Haryana) oils remained in demand advanced by Rs 300 each to Rs 6,800 and Rs 6,400 per quintal, while groundnut mill delivery (Gujarat) oil gained Rs 200 at Rs 7,400 per quintal, respectively. Sesame mill delivery oil edged up by Rs 150 to Rs 8,650 per quintal.
Mustard pakki and kachi ghani oils also went up to Rs 1,200-1,250 and Rs 1,250-1,350 from previous week's close of Rs 1,150-1,200 and Rs 1,200-1,300 per tin, respectively.

Groundnut solvent refined followed suit and traded in positive zone at Rs 1,275-1,350 from Rs 1,250-1,300 per tin.
In line with a general firm trend, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils climbed by Rs 200 each to Rs 6,950 and Rs 6,650 per quintal, respectively.
Palmolein (rbd) and palmolein (Kandla) oils shot up by Rs 300 each to Rs 6,250 and Rs 6,050, while crude palm oil (ex-kandla) ended higher by Rs 50 at Rs 5,250 per quintal, respectively.
In the non-edible section, castor oil on the back of fresh buying support from consuming industries and ended higher by Rs 50 at Rs 9,450-9,550 per quintal.