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Edible oils strengthen on sustained buying

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Press Trust of India New Delhi
Last Updated : Jan 21 2013 | 6:21 AM IST

Edible oils strengthened further up to Rs 200 per quintal on the wholesale oils and oilseeds market today on sustained buying for the upcoming marriage season demand amid rising trend in overseas.

A few oils in the non-edible section, also showed some firmness on pick up in demand from consuming industries.

The trading sentiment remained bullish after palm oil soared to a 28-month high in the overseas market.

Meanwhile,palm oil futures gained 1.4 per cent to $1,114 per tonne, the highest level since July 2008, on the Malaysia Derivatives Exchange.

In the national capital, soyabean refined mill delivery (Indore) and soyabean degum (Delhi) remained in demand and advanced by Rs 100 and Rs 30 to Rs 5,800 and Rs 5,100, while crude palm oil (ex-kandla) and palmolein (rbd) oils in similar manners added Rs 100 each to Rs 4,850 and Rs 5,650 per quintal. 

Mustard expeller (Dadri) oil and sesame mill delivery oils gained Rs 50 and Rs 200 to Rs 5,600 and Rs 6,050 per quintal.

Cottonseed mill delivery oil (Haryana) and groundnut mill delivery (Gujrat) rose by Rs 200 and Rs 100 to Rs 5,100 and Rs 7,100 per quintal.

In line with a general firming trend, ground mill delivery (Gujarat) shot up by Rs 200 to Rs 7,000 per quintal while groundnut solvent refined traded higher by Rs 10 to Rs 1,420-1,430 per tin.  

Cottonseed mill delivery (Haryana) oil too traded in positive zone with a jump of Rs 180 to Rs 4,900 per quintal. 

In the non-edible section, neem oil gained Rs 50 to Rs 3,750-3,850 per quintal on increased offtake by soap units.

In the non-edible section, linseed and neem oils traded higher by Rs 50 each to Rs 4,300 and Rs 3,800-3,900 per quintal.

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First Published: Nov 11 2010 | 2:41 PM IST

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