Edible oils firm up on sustained miller buying

The wholesale oil and oilseed market remained firm for yet another week on continued buying by vanaspati millers and retailers to meet rising wedding season demand.
Besides, costlier imports following weaker rupee against the dollar and restricted arrivals from the producing belts supported the upside in prices.
Castor oil in the non-edible section, too, edged up due to increased offtake by consuming industries.
Traders said sustained buying by vanaspati millers and retailers triggered by rising wedding season demand against restricted supplies mainly kept edible oil prices higher.
Meanwhile, country's vegetable oil imports rose 33 per cent to 11.08 lakh tonnes in April, mainly on higher shipments of palm oil.

The imports of vegetable oil during the same month last year stood at 8.32 lakh tonnes, according to industry data.

In the national capital, groundnut mill delivery (Gujarat), mustard expeller (Dadri) and cottonseed mill delivery (Haryana)oils were up by Rs 50 each to Rs 8,750, Rs 7,150 and Rs 5,600 per quintal, respectively, on retailers' demand.
Groundnut solvent refined, which remained steady for the major part of week, found increased demand from retailers and ended higher by Rs 50 to Rs 1,625-1,675 per tin.
Mustard pakki and kachi ghani oils also moved up by Rs 20 each to Rs 1,220-1,270 and Rs 1,270-1,370 per tin, respectively.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils advanced Rs 100 each to Rs 6,700 and Rs 6,400 per quintal, respectively.
Palmolein (RBD and palmolein (Kandla) oils, too, surged 150 each to Rs 5,700 and Rs 5,600 per quintal, respectively, while crude palm oil (ex-Kandla) ended higher by Rs 50 at Rs 4,300 per quintal.
In the non-edible section, castor oil went up Rs 50 to Rs 9,850-9,950 per quintal on increased demand from consuming industries.