Select edible oils strengthen on millers' buying, tight supply

Select edible oil prices rose for the second straight week at the wholesale oil and oilseeds market on increased buying by vanaspati millers, driven by a pick-up in demand from retailers against tight supplies.

Castor and linseed oils in the non-edible section, also turned costlier on the back of increased offtake by consuming industries.

Traders said persistent buying by vanaspati millers to meet rising demand from retailers against tight stocks position on fall in supplies from producing regions, mainly kept select edible oil prices higher.

In the national capital, mustard expeller (Dadri) oil rose by Rs 150 to Rs 7,850 per quintal. Mustard pakki and kachi ghani oils followed suit and traded higher by Rs 10 each to Rs 1,275-1,320 and Rs 1,325-1,425 per tin, respectively.

Sesame mill delivery and cottonseed mill delivery (Haryana) oils also moved up by Rs 100 each to Rs 9,700 and Rs 7,400 per quintal, respectively.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils too edged up by Rs 50 each to Rs 7,700 and Rs 7,300 per quintal, respectively.

On the other hand, palmolein (RBD) and palmolein (Kandla) drifted lower by Rs 100 each to Rs 7,000 and Rs 7,050 per quintal, respectively.

In the non-edible section, castor oil shot up by Rs 200 to Rs 7,300-7,400 per quintal. Linseed oil also traded higher by Rs 100 to Rs 9,100 per quintal.