Soyabean, palmolein oils rise on increased demand, global cues

Prices of soyabean and palmolein oils rose by Rs 100 per quintal at the wholesale oilseeds market in the national capital today on increased demand for the wedding season amidst a firm global trend.
However, non-edible oils moved in a narrow range in limited deals and settled around previous levels.
Traders said increased demand supported by the wedding season mainly led to rise in select edible oil prices.
Besides, a firming global trend where palm oil surged to a three-month high on expectations that an increase in the biodiesel mandate in Malaysia will boost demand for the world's most used cooking oil, also influenced the sentiment.

Meanwhile, palm oil climbed one per cent to USD 703 a metric tonne, the highest level since July 14 on Malaysia Derivatives.
In the national capital, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils rose by Rs 100 each to Rs 6,600 and Rs 6,300 per quintal, respectively.

Palmolein (rbd) and palmolein (kandla) oils followed suit and traded higher by Rs 100 each to Rs 5,750 and Rs 5,550 per quintal, respectively.
Following are today's quotations (in Rs per quintal):
Oilseeds: Mustard seed 2,950-3,050 and Groundnut Seed 2,150-2,900.
Vanaspati Ghee (15-litre tin) 960-1,130.
Edible oils: Groundnut Mill Delivery (Gujarat) 7,600, Groundnut Solvent Refined (per tin) 1,350-1,400, Mustard expeller (Dadri) 7,300, Mustard Pakki Ghani (per tin) 1,200- 1,250, Mustard Kachi Ghani (per tin) 1,250-1,350, sesame mill delivery 8,400, Soyabean Refined Mill Delivery (Indore) 6,600, Soyabean Degum (Kandla) 6,300, Crude Palm Oil (Ex-Kandla) 4,600, Cottonseed Mill Delivery (Haryana) 6,100, Palmolein (RBD) 5,750, Palmolein (Kandla) 5,550 and Coconut (per tin) 2,675-2,750.

Non-edible oils: Linseed 8,150, Castor 9,650-9,750, Neem 5,350-5,450.