Palmolein oil rebounds on global cues

In restricted trading, palmolein oil prices recovered by Rs 20 per quintal in the wholesale oils and oilseeds market today on fresh buying by vanaspati millers, driven by festive and marriage season demand.

Besides firming global trend also supported the upside in the prices. Trading sentiment turned better after palm oil Malaysia, the second biggest producer, strengthened on speculation of an increase in its exports.

Meanwhile, palm oil futures for November delivery jumped by 0.9 per cent to $849 a metric tonne on the Malaysia Derivatives Exchange.

In the edible section, palmolein (rbd) regained strength on pick up in demand in view of festive season and recovered by Rs 20 to Rs 4,870 per quintal.

 

Following are today's quotations in Rs per quintal:

Oilseeds: mustard seed 2,500-2,600 and groundnut seed 2,100-2,850
Vanaspati ghee (15 litres tin) 750-860

Edible oils: Groundnut mill delivery (Gujarat) 9,000, groundnut Solvent refined (per tin) 1,550-1,560, Mustard Expeller (Dadri) 5,270, Mustard Pakki ghani (per tin) 715-870, Mustard kachi ghani (per tin) 870-970

Sunflower 6,300, Sesame mill delivery 5,850, soybean Refined mill delivery (Indore) 4,760 Soyabean degum (Delhi) 4,650, Crude Palm Oil (Ex-kandla) 4,140, Cottonseed mill delivery (Haryana) 4,600, Palmolein (RBD) 4,870, Rice bran (phy) 3,750 and Coconut (per tin) 1,125-1,155

Non-edible oils: Linseed 4,100, Mahuwa 4,000, Castor 8,100-8,200, Neem 3,800-3,900, Rice bran 3,300-3,400 and palm fatty 3,225-3,300

Oilcakes: groundnut de-husk 800-850, sesame 950-1,150, Mustard (new) 1,025-1,050, Mustard 1,200-1,210 and Cottonseed 1,075-1,175