Palmolein oils strengthen in mixed trend

Palmolein oil prices strengthened at the wholesale oils and oilseeds market during the week on mild demand from retailers.

However, groundnut, mustard and soyabean oils remained lower, largely dragged down by adequate stocks position against tepid demand.

Non-edible oils too showed a mixed trend.

Marketmen said some demand from retailers mainly led to a rise in palmolein oil prices but surplus stocks position against muted demand kept pressure on other prices.

In the national capital, palmolein (RBD) and palmolein (Kandla) oils advanced by Rs 150 each to Rs 7,050 and Rs 7,150 per quintal, respectively.

On the other hand, groundnut mill delivery (Gujarat) and mustard expeller (Dadri) oils also drifted lower by Rs 100 each to Rs 8,400 and Rs 7,900 per quintal, respectively.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils also shed Rs 50 each to Rs 7,750 and Rs 7,350 per quintal, respectively.

In the non-edible section, linseed oil edged up by 50 to Rs 9,300 per quintal on scattered enquiries from paint industries, while castor oil declined by Rs 100 to Rs 7,700-7,800 per quintal on reduced industrial offtake.