Palmolein oil strengthens on global cues

Palmolein oil prices rose by Rs 50 per quintal on the wholesale oils and oilseeds market today on increased buying by vanaspati millers amid a firming global trend.
Castor oil, in the non-edible section, also went up on increased industrial offtake.
Traders said sustained buying by vanaspati millers in line with firming global trend where palm oil traded at almost 17-month high on speculation that dry weather in Southeast Asia may hurt production of the world's most-used cooking oil.
Meanwhile, palm oil for May delivery climbed 2 per cent to 873 dollar a metric tonne on the Malaysia Derivatives Exchange.

In the national capital, palmolein (rbd) and palmolein (Kandla) oils advanced by Rs 50 each to Rs 7,000 and Rs 6,650 per quintal respectively.
In the non-edible section, castor oil traded higher by Rs 50 to Rs 9,550-9,650 per quintal.

The following were today's quotations per quintal:
Oilseeds: Mustardseed 2,950-3,050 and Groundnut Seed 2,150-2,900.
Vanaspati Ghee (15-litre tin) 1,160-1,290.
Edible oils: Groundnut Mill Delivery (Gujarat) 7,500, Groundnut Solvent Refined (per tin) 1,900-1,950, Mustard expeller (Dadri) 7,550, Mustard Pakki Ghani (per tin) 1,290-1,370, Mustard Kachi Ghani (per tin) 1,375-1,475,Sunflower 6,300, Sesame Mill Delivery 11,600, Soybean Refined Mill Delivery (Indore) 7,800, Soyabean Degum (Kandla) 7,550,Crude Palm Oil (Ex-Kandla) 5,650, Cottonseed Mill Delivery (Haryana) 6,350, Palmolein (RBD) Rs 7,000, Palmolein (Kandla) 6,650, Rice Bran (phy) 3,800 and Coconut (per tin) 1,750-1,800.

Non-edible oils: Linseed 7,600, Mahuwa 4,000, Castor 9,550-9,650, Neem 5,300-5,400, Rice Bran 3,150-3,250 and Palm Fatty 3,200-3,300.
Oilcakes: Groundnut Dehusk 800-850, Sesame 950-1,150, Mustard (New) 1,000-1,025, Mustard 1,200-1,210 and Cottonseed 1,075-1,175.