Select edible oils recover on fresh buying by millers

Select edible oil prices recovered up to Rs 100 per quintal at the wholesale oils and oilseeds market today on increased buying by vanaspati millers and retailers amid a firm global trend.
Neem oil in the non-edible section also moved up on increased industrial offtake.
Traders said fresh buying by vanaspati millers and retailers amid a firm global trend on speculation that dry weather in Brazil will probably limit supplies of soybeans, mainly boosted the sentiment.
Meanwhile, palm oil for May delivery climbed 0.9 per cent to USD 868 a tonne on the Malaysia Derivatives Exchange.
In the national capital, groundnut mill delivery (Gujarat) and mustard expeller (Dadri) oils rose by Rs 100 and Rs 50 to 7,600 and Rs 7,500 per quintal, respectively.

Taking positive cues from overseas markets, palmolein (rbd) and palmolein (Kandla) oils recovered by Rs 100 each to Rs 6,800 and Rs 6,450 per quintal, respectively.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils followed suit and enquired higher by a similar margin to Rs 7,600 and Rs 7,350 per quintal, respectively.
Coconut oil also shot up by Rs 100 to Rs 1,900-1,950 per tin.
Among non-edible, neem oil rose by Rs 50 to Rs 5,350-5,450 per quintal.