Select edible oils strengthen on sustained millers buying

Select edible oils strengthened by Rs 100 per quintal at the wholesale oils and oilseeds market today following sustained buying by vanaspati millers for the ongoing wedding season amid a firming global trend.
A few oils in the non-edible section also moved up on increased offtake by consuming industries.
Traders said increased buying by vanaspati millers for the ongoing wedding season mainly led to the rise in select edible oil prices.
Besides, firming global trend where palm oil climbed to the highest level in 17 months on speculation that excess rain in Brazil may hurt soybean crops in the world's largest exporter, further fuelled the uptrend, they said.

Meanwhile, palm oil for May delivery advanced 0.8 per cent to USD 842 a tonne, the highest level since September 2012, on the Malaysia Derivatives Exchange.
In the national capital, palmolein (rbd) and palmolein (Kandla) oils advanced by Rs 100 each to Rs 6,750 and Rs 6,400, while crude palm (ex-kandla) traded higher by the same margin to Rs 5,500 per quintal, respectively on positive global cues.
Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils followed suit and gained Rs 100 each to Rs 7,650 and Rs 7,400 per quintal, respectively.
Among non-edible oils, castor oil rose by Rs 100 to Rs 9,500-9,600 per quintal. Linseed oil traded higher by a similar margin to Rs 7,550 per quintal on increased demand from paint industries.