Select edible oils remain up on rising demand, tight supply

Select edible oils continued their upward journey for yet another week at the wholesale oils and oilseeds market on the back of pick up in demand from retailers and vanaspati millers driven by festive season amid restricted supplies from producing belts.
Castor oil in the non-edible section, also finished higher on increased offtake by consuming industries.
Market remained closed on Saturday on account of "Janmashtami".
Traders said rising demand from retailers and vanaspati millers to meet festive and marriage season demand amid restricted supplies from producing regions mainly kept select edible oil prices higher.
Depreciating rupee against the dollar that made imports expensive also supported the upside in edible oil prices, they said.

In the national capital, groundnut mill delivery (Gujarat) oil rose by Rs 50 to Rs 8,900 per quintal, while groundnut solvent refined held steady at Rs 1,675-1,725 per tin.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils also moved up by Rs 50 each to Rs 6,450 and Rs 6,150 per quintal respectively.
Palmolein (rbd) and palmolein (Kandla) oils too edged up by a similar margin to Rs 5,250 and Rs 5,150 per quintal respectively.
On the other hand, mustard expeller (Dadri), sesame mill delivery and cottonseed mill delivery (Haryana) oils moved in a narrow range in limited deals and settled at previous levels of Rs 7,600, Rs 7,900 and Rs 5,700 per quintal respectively.

In the non-edible section, castor oil rose by Rs 100 to Rs 9,800-9,900 per quintal on increased demand from consuming industries.