Palmolein, soyabean oils strengthen on sustained buying

In a mixed trade, palmolein and soyabean oil prices rose on the oils and oilseeds market during the past week on sustained buying by vanaspati millers driven by the ongoing wedding season demand amid a firm global trend, while a few other remained weak on adequate supplies.
Linseed oil in the non-edible section, showed strength on increased demand from paint industries.
Traders said persistent buying by vanaspati millers to meet marriage season demand and a firm global trend mainly led to the rise in palmolein and soyabean oil prices.
Meanwhile, palm oil gain 2 per cent at USD 773 a tonne on the Malaysia Derivatives Exchange.

In the national capital, palmolein (rbd) and palmolein (kandla) rose by Rs 100 each to Rs 6,300 and Rs 5,900 per quintal,respectively on positive global cues.
Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils followed suit and gained Rs 100 each to Rs 7,200 and Rs 6,900 per quintal, respectively.
On the other hand, groundnut mill delivery (Gujarat) and cottonseed mill delivery (Haryana) oils fell by Rs 100 and Rs 200 to Rs 7,900 and Rs 6,100, while Mustard expeller (Dadri) oil shed Rs 50 at Rs 7,250 per quintal respectively on adequate supplies from producing regions against subdued demand.

In the non-edible section, linseed oil found fresh buying support from paint industries and ended higher by Rs 100 to Rs 7,350 per quintal.