Palmolein, soyabean oils strengthen on millers buying

Prices of palmolein and soyabean oils strengthened by Rs 50 per quintal at the wholesale oils and oilseeds market today on increased buying by vanaspati millers following increased demand from retailers.
However, non-edible oils held steady in thin trade.
Traders said increased buying by vanaspati millers driven by rising demand from retailers amid a firming trend overseas.
Meanwhile, palm oil futures for October delivery advanced 1.5 per cent to 2,475 ringgit a tonne on Bursa Malaysia Derivatives, the highest level for the most-active contract since June 15 in yesterday's trade.
In the national capital, palmolein (rbd) and palmolein (Kandla) oils advanced by Rs 50 each to Rs 6,000 and Rs 6,050 per quintal respectively.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils followed suit and traded higher by a similar margin to Rs 6,850 and Rs 6,550 per quintal, respectively.

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 13,600, Groundnut Solvent Refined (per tin) Rs 1,970-2,020, Mustard expeller (Dadri) Rs 8,700, Mustard Pakki Ghani (per tin) Rs 1,405-1,4550, Mustard Kachi Ghani (per tin) Rs 1,455-1,555, Sesame Mill delivery Rs 7,800, Soybean Refined Mill Delivery (Indore) Rs 6,850, Soybean Degum (Kandla) Rs 6,550, Crude Palm Oil (Ex-Kandla) Rs 4,500, Cottonseed Mill Delivery (Haryana) Rs 6,500, Palmolein (RBD) Rs 6,000, Palmolein (Kandla) Rs 6,050 and Coconut (per tin) Rs 1,550-1,600.

Non-edible oils: Linseed Rs 9,700, Castor Rs 9,750-9,850, Neem Rs 5,350-5,450.