Groundnut, mustard oils strengthen in mixed trend

Prices of groundnut and mustard oils strengthened on increased buying by vanaspati millers and retailers while palmolein oil remained lower on adequate stocks position in a mixed pattern of trading at the wholesale oils and oilseeds market during the week.
Castor oil in the non-edible section, slipped owing to reduced offtake by consuming industries.
Traders said apart from rising demand from vanaspati millers and retailers, tight stocks position on fall in supplies from producing regions mainly led to the rise in groundnut and mustard oil prices but ample stocks position kept pressure on palmolein oil prices.
Meanwhile, India's cooking oil imports rose by 6.23 per cent to 12.48 lakh tonnes in November this year on higher shipment of crude sunflower and soyabean oil, industry body Solvent Extractors Association (SEA) said.

Cooking (vegetable) oil imports stood at 11.75 lakh tonnes in the year-ago period. The share of palm oil is more than 60 per cent in total imports.
Last month, the government raised import duty on edible oils to 15 per cent across the board to protect domestic growers.

In the national capital, groundnut mill delivery (Gujarat) oil rose by Rs 200, to Rs 9,400 per quintal, while groundnut solvent refined held steady at Rs 1,650-1,750 per tin.
Mustard expeller (Dadri) oil was also in local demand and ended higher by Rs 100 to Rs 8,050 per quintal.
On the other hand, palmolein (RBD) and palmolein (Kandla) oils fell by Rs 100 each to Rs 6,300 and Rs 6,350 per quintal, respectively.

In the non-edible section, castor oil eased by Rs 100 to Rs 8,500-8,600 per quintal.