Select edible oils up on retailers' demand, global cues

Select edible oil prices rose by upto Rs 100 per quintal at the wholesale oils and oilseeds market Tuesday on renewed demand from retailers amid firm global trend.

However, linseed oil in the non-edible group eased on reduced offtake by consuming industries.

Traders said renewed demand from retailers and a firm trend overseas mainly led to the rise in select edible oil prices.

Globally, the benchmark palm oil for December delivery was up 0.9 per cent at 2,162 ringgit (USD 523.87) a tonne on the Bursa Malaysia Derivatives Exchange.

In the national capital, groundnut mill delivery (Gujarat) oil recovered by Rs 100 to Rs 8,800 per quintal.

Taking positive cues from global markets, palmolein (rbd) and palmolein (Kandla) oils also edged up by Rs 50 each to Rs 6,850 and Rs 6,900 per quintal, respectively.

Crude palm oil (ex-kandla) followed suit and traded higher by Rs 100 to Rs 5,700 per quintal.

On the other hand, in the non-edible section, linseed oil slipped by Rs 100 to Rs 9,300 per quintal.

Following are today's quotations (in Rs per quintal):
Edible oils: Groundnut mill delivery (Gujarat) Rs 8,800, Groundnut Solvent Refined (per tin) Rs 1,700-1,800, Mustard expeller (Dadri) Rs 8,500, Mustard Pakki Ghani (per tin)