Select edible oils extend gains on festive demand

Select edible oil prices extended gains for the third-week at the wholesale oils and oilseeds market on increased buying by vanaspati millers and retailers, triggered by festive season demand amid tight supplies from producing regions.
In the non-edible segment, castor oil also strengthened on increased demand from consuming industries.
Market remained closed on Thursday and Friday on account of "Mahatma Gandhi Jayanti" and "Dussehra", respectively.
Traders said increased buying by vanaspati millers and retailers to meet rising demand, driven by festive season against tight supplies from producing belts, mainly kept select edible oil prices firm.
In the national capital, groundnut mill delivery (Gujarat) remained in keen demand and added another Rs 50 to Rs 7,600 per quintal.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils also advanced by Rs 100 each to Rs 6,650 and Rs 6,350 per quintal, respectively.

Palmolein (rbd) and palmolein (Kandla) oils followed suit and gained Rs 50 each to Rs 5,950 and Rs 5,750 per quintal, respectively.
On the other hand, seasame and cotton seed mill delivery (Haryana) oils moved in a tight range on limited deals and settled at previous levels of Rs 8,300 and Rs 6,250 per quintal, respectively.
In the non-edible section, castor oil rose by Rs 50 to Rs 9,700-9,800 per quintal.