Select edible oils firm up on sustained buying by millers

In restricted activity, select edible oils registered a further rise in prices at the wholesale oil and oilseeds market during the week on sustained buying by vanaspati millers and retailers to meet festive and wedding season demand against tight supplies.
However, non-edible oils continued to move in a narrow range in limited deals and settled around previous levels.
Markets remained closed on Friday on account of Gandhi Jayanti.
Traders said persistent buying by vanaspati millers and retailers, triggered by festive and wedding season demand, amid tight supplies from producing belts, mainly kept select edible oil prices higher.
Besides, reports of a firming trend overseas also supported the upside, they said.

In the national capital, palmolein (RBD) and palmolein (Kandla) oils advanced by Rs 50 each to Rs 5,600 and Rs 5,500, respectively, while crude palm oil (ex-Kandla) edged up by a similar margin to Rs 4,250 per quintal.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils followed suit and went up by Rs 50 each to Rs 6,600 and Rs 6,300 per quintal, respectively.
On the other hand, groundnut mill delivery (Gujarat), mustard expeller (Dadri) and cottonseed mill delivery (Haryana) oils traded in a tight range on scattered buying and selling and settled at previous week's level of Rs 9,100, Rs 7,900 and Rs 5,900 per quintal, respectively.

In the non-edible section, castor and linseed oil, after moving in a tight range in the absence of worthwhile activity from consuming industries, finished flat at Rs 9,850-9,950 and Rs 8,550 per quintal, respectively.