Select edible oils remain up on buying by millers

Select edible oils remained higher and prices added Rs 50 per quintal at the wholesale oils and oilseeds market on increased buying by vanaspati millers and retailers amid a firming global trend.
However, non-edible oils held steady in restricted buying from consuming industries.
Marketmen said increased buying by vanaspati millers and retailers and a firming global trend where palm oil advanced to the highest level in two weeks, on speculation that dry weather in Brazil may reduce soybean output in the world's biggest exporter, trimming global vegetable oil supplies, mainly boosted the sentiment.
Meanwhile, palm oil for April delivery rose 0.9 per cent to USD 779 a tonne, the highest level since January 24 on the Malaysia Derivatives Exchange.

In the national capital, palmolein (rbd) and palmolein (Kandla) oils advanced by Rs 50 each to Rs 6,500 and Rs 6,100, while crude palm oil (ex-kandla) traded higher by the same margin to Rs 5,150 per quintal, respectively.
Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) also added Rs 50 each to Rs 7,400 and Rs 7,100 per quintal, respectively.
Cottonseed mill delivery (Haryana) oil enquired higher by a similar margin to Rs 6,200 per quintal.
In line with a general firm trend, coconut oil prices also increased by Rs 50 to Rs 1,490-1,540 per tin.