Edible oils strengthen on sustained millers buying

Prices of select edible oils strengthened up to Rs 200 per quintal at the oils and oilseeds market today on continued buying by vanaspati millers to meet ongoing marriage season demand amid a firming global trend.
A few oils in the non-edible section also went up on increased demand from consuming industries.
Traders said sustained buying by vanaspati millers for the wedding season amid a firming global trend on concern that falling output in Indonesia and Malaysia will trim global inventories of the commodity, mainly boosted the sentiment.
Meanwhile, palm oil for April delivery advanced 1.1 per cent to USD 809 a tonne on Malaysia Derivatives Exchange.

In the national capital, groundnut mill delivery (Gujarat) and mustard expeller (Dadri) oils rose Rs 200 each to Rs 7,700 and Rs 7,400, while cottonseed mill delivery (Haryana) oil traded higher by Rs 100 to Rs 6,200 per quintal, respectively.
Taking positive cues from overseas markets, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils moved up by Rs 200 each to Rs 7,500 and Rs 7,250 per quintal, respectively.
Palmolein (rbd) and palmolein (kandla) oils followed suit and enquired higher by the same margin to Rs 6,600 and Rs 6,250 per quintal, respectively.
In the non-edible section, neem and linseed oil rose by Rs 20 and Rs 50 to Rs 7,450 and Rs 5,300-5,400 per quintal, respectively.