Select edible oils firm up on seasonal buying

Riding on festive and wedding season demand, prices of select edible oils increased by up to Rs 200 per quintal at the wholesale oil and oilseeds market during the week.
Furthermore, tight supplies from growing regions and a firming trend in the global market attributed rise in edible oil prices.
Linseed oil in the non-edible section, also moved up on increased demand from paint industries.
Traders said increased buying by vanaspati millers and retailers, driven by ongoing festive and wedding season amid tight supplies from producing belts, mainly led to rise in select edible oil prices.
Meanwhile, palm oil traded higher at 2,320 ringgit (USD 538) a metric tonne on the Bursa Malaysia Derivatives.

In the national capital, mustard expeller (Dadri) oil shot up by Rs 200 to Rs 8,250 per quintal on pick-up in demand from local parties. Mustard pakki and kachi ghani oils followed suit and ended higher by Rs 50 each at Rs 1,445-1,495 and Rs 1,485-1,585 per tin, respectively.

Groundnut mill delivery (Gujarat) oil rose by Rs 100 to Rs 9,050 per quintal.
Palmolein (RBD) and palmolein (Kandla) oils also went up by Rs 50 each to Rs 5,550 and Rs 5,500 per quintal, respectively on higher global cues.
Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils too finished higher by a similar margin to Rs 6,750 and Rs 6,450 per quintal, respectively.

In the non-edible section, linseed oil jumped Rs 150 to Rs 8,950 per quintal on hectic demand from paint industries in view of festive season.