Groundnut, palmolein oils up on rising demand

Prices of groundnut and palmolein oil rose by up to Rs 100 per quintal at the wholesale oils and oilseeds market on the back of rising demand from retailers.
However, other edible and non-edible oils continued to move in a narrow range on lack of worthwhile activity and pegged at the last levels.
Traders said surging demand from retailers against restricted supplies from producing regions mainly led to the rise in groundnut and palmolein oil prices.
They said, however, volume of business remained extremely restricted in view of cash crunch in the market after government demonetised Rs 500 and Rs 1,000 currency notes to flush out black money.

In the national capital, groundnut mill delivery (Gujarat) oil rose by Rs 100 to Rs 10,500 per quintal, while groundnut solvent refined traded higher by Rs 50 to Rs 1,750-1,850 per tin.
Palmolein (rbd) and palmolein (Kandla) oils also moved up by Rs 50 each to Rs 5,800 and Rs 5,850 per quintal.

Following are today's quotations (in Rs per quintal):
Oilseeds: Mustard seed Rs 2,950-3,050 and Groundnut seed Rs 2,150-2,900. Vanaspati Ghee (15-litre tin) Rs 800-1,000.
Edible oils: Groundnut Mill Delivery (Gujarat) Rs 10,500,Groundnut Solvent Refined (per tin) Rs 1,750-1,850, Mustard expeller (Dadri) Rs 8,700, Mustard Pakki Ghani (per tin) Rs 1,350-1,395, Mustard Kachi Ghani (per tin) Rs 1,400-1,500,Sesame Mill delivery Rs 8,100, Soybean Refined Mill Delivery(Indore) Rs 6,700, Soybean Degum (Kandla) Rs 6,400, Crude Palm Oil (Ex-Kandla) Rs 4,600, Cottonseed Mill Delivery (Haryana) Rs 6,650, Palmolein (RBD) Rs 5,800, Palmolein (Kandla) Rs 5,850 and Coconut (per tin) Rs 1,750-1,800.

Non-edible oils: Linseed Rs 9,900, Castor Rs 9,700-9,800, Neem Rs 5,350-5,450.