Edible oils strengthen on buying support

Select edible oil prices strengthened up to Rs 50 per quintal on the wholesale oils and oilseeds market today on increased buying by vanaspati millers and retailers for the ongoing marriage season.

A few oils in the non-edible oils also went up on increased industrial offtake. A firm trend in overseas market also influenced the trading sentiment.

Traders said besides a firm trend in overseas market, sustained buying by vanaspati millers and retailers mainly strengthened select wholesale edible oil prices.

They said a firm trend in overseas market further supported the uptrend in edible oils. Meanwhile, palm oil futures for March-delivery gained 1.5 per cent to $1,139 a tonne on the Malaysia Derivatives Exchange.

In the national capital, mustard expeller oil (Dadri) rose by Rs 30 to Rs 5,750 per quintal, while mustard pakki and kachi ghani oils traded higher by Rs 5 each to Rs 770-925 and Rs 925-1,025 per tin.

Sesame mill delivery oil gained Rs 50 to Rs 6,250 per quintal and coconut oil was higher the same margin to Rs 1,350-1,410 per tin.

In line with general firming trend, palmolein (rbd) and crude palm oil (ex-kandla) oils moved up by Rs 20 each to Rs 5,940 and Rs 5,340 per quintal.

In the non-edible section, neem and castor oils were enquired higher by Rs 50 each to Rs 4,000-4,100 and Rs 8,500-8,600 per quintal.

Following are today's quotations in Rs per quintal:

Oilseeds: mustard seed 2,525-2,655 and groundnut seed 2,100-2,850
Vanaspati ghee (15 litres tin) 925-960

Edible oils: Groundnut mill delivery (Gujarat) 7,350, groundnut Solvent refined (per tin) 1,425-1,435, Mustard Expeller (Dadri) 5,750, Mustard Pakki ghani (per tin) 770-925, Mustard kachi ghani (per tin) 925-1,025

Sunflower 6,300, Sesame mill delivery 6,200, soybean Refined mill delivery (Indore) 6,070, Soyabean degum (Kandla) 5,680, Crude Palm Oil (Ex-kandla) 5,340, Cottonseed mill delivery (Haryana) 5,420, Palmolein (RBD) 5,940, Rice bran (phy) 3,750 and Coconut (per tin) 1,350-1,410

Non-edible oils: Linseed 4,500, Mahuwa 4,000, Castor 8,500-8,600, Neem 4,000-4,100, 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) 1,000-1,025, Mustard 1,200-1,210 and Cottonseed 1,075-1,175