Select edible oils strengthen on wedding season demand

In a mixed pattern of trading, select edible oils strengthened at the wholesale oils and oilseeds market during the week on increased buying by vanaspati millers and retailers to meet ongoing wedding season demand and prices rose by Rs 100 per quintal.
However, mustard and sesame oils eased owing to adequate stocks position against subdued demand.
Castor oil in the non-edible section, showed some strength and ended higher on increased offtake by consuming industries.
Traders said increased buying by vanaspati millers and retailers to meet ongoing wedding season demand mainly influenced select edible oil prices.
They said, however, adequate stocks position against sluggish demand kept pressure on other edible oils.

Meanwhile, country's vegetable oils imports rose 12 per cent to all time high of 11.82 million tonnes in the 2013-14 marketing year ended October.

In the national capital, groundnut mill delivery (Gujarat) oil improved gradually to close Rs 100 higher at Rs 7,800 per quintal, while groundnut solvent refined remained steady at Rs 1,350-1,400 per tin on some support.
Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils advanced by Rs 100 each to Rs 6,700 and Rs 6,400 per quintal, respectively.
Palmolein (rbd) and palmolein (Kandla) oils in tandem with overall trends rose by a similar margin to Rs 5,900 and Rs 5,700 per quintal, respectively.

On the other hand, mustard expeller (Dadri) and sesame mill delivery oils declined by Rs 50 and Rs 100 to Rs 7,200 and Rs 8,200 per quintal respectively on adequate stocks position.
Coconut oil also eased to Rs 2,600-2,650 from last week's closing of Rs 2,675-2,750 per tin.
In the non-edible section, castor oil moved up by Rs 50 to Rs 9,650-9,750 per quintal on the back of scattered demand from consuming industries.