Edible oils recover on global cues, millers buying

The wholesale oils and oilseeds market showed a firming trend today with prices of select edible oils recovering up to Rs 50 per quintal on a rising trend overseas amid increased buying by millers and retailers.
Marketmen said apart from firming trend in the overseas markets, as palm oil gained on speculation that demand may improve as dry weather hurt soybean output prospects in South America, influenced select edible oil prices here.
Meanwhile, palm oil for April delivery climbed 0.9 per cent to 2,551 ringgit (USD 767) a tonne at the Bursa Malaysia Derivatives.
In the national capital, crude palm oil (ex-kandla), palmolein (RBD) and palmolein (Kandla) were back in better form and recovered by Rs 50 each to trade at Rs 5,100, Rs 6,400 and Rs 6,000 per quintal, respectively.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) gained Rs 30 each at Rs 7,310 and Rs 7,010 per quintal, respectively.
In line with overall trends, mustard expeller (Dadri) traded Rs 50 higher at Rs 7,350 per quintal. Mustard pakki and kachi ghani oils too gained Rs 10 each at Rs 1290-1370 and Rs 1,375-1,475 per tin of 15 kgs, respectively.
Coconut oil, despite thin trading, traded Rs 10 higher at Rs 1,390-1,440 per tin.