Edible oils extend gains on rising demand, tight supply

Select edible oil prices rose further at the wholesale oils and oilseeds market during the week on rising demand from vanaspati millers and retailers against tight supplies amid firm global cues.
Castor oil in the non-edible section, also showed strength on increased offtake by consuming industries.
Traders said besides, rising demand from vanaspati millers and retailers, tight stocks position on fall in arrivals from producing regions and a firm trend overseas mainly kept select edible oil prices higher.
In the national capital, groundnut mill delivery (Gujarat) oil moved up by Rs 200 to Rs 8,600 per quintal. Groundnut solvent refined followed suit and traded higher by Rs 50 to Rs 1,550-1,650 per tin.

Mustard expeller (Dadri) oil went up by Rs 200 each to Rs 7,950 per quintal. Mustard pakki and kachi ghani oils edged up by Rs 50 each to Rs 1,300-1,345 and Rs 1,350-1,450 per tin.
Tracking a firm trend overseas, palmolein (RBD) and palmolein (Kandla) also climbed by Rs 200 each to Rs 5,650 and Rs 5,700 per quintal, respectively.
Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils too edged up Rs 50 each to Rs 6,800 and Rs 6,400 per quintal, respectively.
In the non-edible section, castor oil shot up by Rs 150 to Rs 9,200-9,300 per quintal.