Select edible oils recover on fresh buying, global cues

Select edible oil prices recovered by Rs 50 per quintal on the wholesale oils and oilseeds market today on fresh vanaspati millers buying amid a firm global trend.
Castor oil in the non-edible section, also moved up on increased demand from consuming industries.
Traders said increased buying by vanaspati millers amid a firm global trend, mainly boosted the sentiments.
Meanwhile, palm oil for May delivery advanced one per cent to 888 dollar a metric tonne, the highest level since September 2012 on Malaysia Derivatives Exchange on concern that a prolonged dry spell in Malaysia and Indonesia, the biggest growers may reduce supplies of the world's most-used cooking oil.

In the national capital, palmolein (rbd) and palmolein (Kandla) oils recovered by Rs 50 each to Rs 6,950 and Rs 6,600,while crude palm oil (ex-kandla) traded higher by the same marginto Rs 5,700 per quintal respectively.
Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils followed suit and gained Rs 50 each at Rs 7,750 and Rs 7,500 per quintal respectively.
In the non-edible section, castor oil traded higher by Rs 50 to Rs 9,600-9,700 per quintal.