Edible oil prices rebounded by up to Rs 50 per quintal in the oils and oilseeds market today on emergence of buying and a firming trend in overseas market.
Market analysts said trading sentiments turned better on the back of millers and stockists buying for the coming festivals and a firming trend in global markets, where palm oil climbed after the Federal Reserve announced that it would keep interest rates near zero for two years.
Meanwhile, palm oil futures for the October-delivery contract advanced 2% to $990 a tonne on the Malaysia Derivatives Exchange. In the national capital, mustard expeller oil (Dadri) gained Rs 20 to Rs 6,000 per quintal.
Coconut oil edged up by Rs 20 to Rs 1,720-1,780 per tin.
Soyabean refined mill delivery (Indore) added Rs 50 and soyabean degum (Kandla) oils recovered by Rs 25 to Rs 6,425 and Rs 5,900, respectively. Crude palm oil (ex-kandla) gained Rs 50 to Rs 5,175 per quintal.
Palmolein (rbd) and palmolein (Kandla) oils also followed suit and traded higher by Rs 50 to Rs 5,800 and Rs 5,500 per quintal, respectively.
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Following were today's quotations:
Oilseeds: mustard seed 2,525-2,655 and Groundnut seed 2,100-2,850
Vanaspati ghee (15 litres tin) 1,065-1,140
Edible oils: Groundnut mill delivery (Gujarat) 8,500, groundnut Solvent refined (per tin) 1,450-1,460, Mustard Expeller (Dadri) 6,000, Mustard Pakki ghani (per tin) 760-915, Mustard kachi ghani (per tin) 915-1,015
Sunflower 6,300, Sesame mill delivery 6,200, soybean Refined mill delivery (Indore) 6,425, Soyabean degum (Kandla) 5,900, Crude Palm Oil (Ex-kandla) 5,175, Cottonseed mill delivery (Haryana) 5,530
Palmolein (RBD) Rs 5,800 Palmolein (Kandla) 5,500, Rice bran (phy) 3,750 and Coconut (per tin) 1,720-1,780
Non-edible oils: Linseed 4,500, Mahuwa 4,000, Castor 8,400-8,500, Neem 4,000-4,100, Rice bran 3,300-3,400 and palm fatty 3,225-3,300
Oilcakes: groundnut dehusk 800-850, sesame 950-1,150, Mustard (new) 1,000-1,025, Mustard 1,200-1,210 and Cottonseed 1,075-1,175