Select oils strengthen on rising demand, tight supply

Prices of mustard and soyabean oils advanced by Rs 50 per quintal at the wholesale oils and oilseeds market Wednesday on increased offtake by Vanaspati millers amid restricted supplies.

However, castor and linseed oils in the non-edible section, eased on sluggish demand from consuming industries against sufficient stocks.

Traders said besides increased offtake by Vanaspati millers, tight stocks position on fall in arrivals from producing belts mainly kept mustard and soyabean oil prices to trade higher.

In the national capital, mustard expeller (Dadri) oil advanced by Rs 50 to Rs 8,550 per quintal. Mustard pakki and kachi ghani oils followed suit and gained Rs 10 each to Rs 1,325-1,370 and Rs 1,375-1,475 per quintal, respectively.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils also hardened by Rs 50 each to Rs 7,850 and Rs 7,450 per quintal, respectively.

Linseed oil declined by Rs 100 to Rs 9,400 per quintal on reduced demand from paint industries.

Castor oil also eased by Rs 200 to Rs 7,600-7,700 per quintal.

Following are today's quotations (in Rs per quintal):
Edible oils: Groundnut mill delivery (Gujarat) Rs 9,100, Groundnut Solvent Refined (per tin) Rs 1,750-1,850, Mustard expeller (Dadri) Rs 8,550, Mustard Pakki Ghani (per tin) Rs 1,325-1,370, Mustard Kachi Ghani (per tin) Rs 1,375-1,475, Sesame mill delivery Rs 10,600, Soybean Refined mill delivery (Indore) Rs 7,850, Soybean Degum (Kandla) Rs 7,450, Crude Palm Oil (Ex-Kandla) Rs 5,600, Cottonseed mill delivery (Haryana) Rs 7,850, Palmolein (RBD) Rs 6,800, Palmolein (Kandla) Rs 6,850