Select edible oils strengthen on sustained buying

Prices of select edible oils strengthened up to Rs 100 per quintal on the wholesale oils and oilseeds market today on increased buying by vanaspati millers for ensuing wedding season amid firming global trend.

A few oils, in the non-edible section, also showed strength on increased offtake by industrial units.

Sentiments remained firm as palm oil advanced in global markets on speculation that heavy rainfall and flooding may hamper harvesting in Malaysia, the second-largest producer, drawing down record stockpiles.

Meanwhile, palm oil for the contract for March delivery jumped 1.7 per cent to USD 816 a metric tonne on the Malaysia Derivatives Exchange.

In the national capital, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils advanced by Rs 100 each to Rs 7,450 and Rs 7,000, while crude palm oil (ex-kandla)traded higher by Rs 50 to Rs 7,250 per quintal respectively.

Palmolein (rbd) and palmolein (Kandla) oils followed suit and added Rs 100 each to Rs 7,500 and Rs 7,000 per quintal respectively.

In tune with a general trend, sesame and cottonseed mill delivery (Haryana) oils moved up by Rs 100 and Rs 50 to Rs 10,150 and Rs 7,050 per quintal respectively.

In the non-edible section, linseed and neem oils rose by Rs 100 each to Rs 6,100 and Rs 4,800-4,900 per quintal respectively on increased industrial offtake.

The following are today's quotations per quintal:

Oilseeds: Mustardseed 2,950-3,050 and Groundnut Seed 2,150-2,900.

Vanaspati Ghee (15-litre tin) 1,100-1,250.

Edible oils: Groundnut Mill Delivery (Gujarat) 12,300, Groundnut Solvent Refined (per tin) 2,025-2,075, Mustard expeller (Dadri) 8,425, Mustard Pakki Ghani (per tin) 1,300-1,380, Mustard Kachi Ghani (per tin) 1,385-1,485, Sunflower 6,300, Sesame Mill Delivery 10,150, Soybean Refined Mill Delivery (Indore) 7,450, Soyabean Degum (Kandla) 7,000, Crude Palm Oil (Ex-Kandla) 7,250, Cottonseed Mill Delivery (Haryana) 7,050, Palmolein (RBD) Rs 7,500, Palmolein (Kandla) 7,000, Rice Bran (phy) 3,800 and Coconut (per tin) 1,350-1,400.

... contd.

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