Edible oils up on seasonal demand

Select edible oil prices rose up to Rs 50 per quintal in the wholesale oils and oilseeds market today on continued buying by vanaspati millers for the marriage season, amid firming global trend.

Trading sentiment remained bullish as palm oil climbed to the highest level in almost 33 months in global markets on concern that production in Malaysia and Indonesia, the top producers, may lag behind demand through the first half of next year, adding to supply concerns.

Meanwhile, palm oil futures for February-delivery gained 0.9 per cent to $1,200 a metric tonne, the highest since March 2008.

Besides, sustained buying support from vanaspati millers to meet the ongoing marriage season demand amid firming global trend.

In the national capital, mustard expeller oil (Dadri) oil gained Rs 50 to Rs 5,700 per quintal.Its mustard pakki and kachi ghani oils traded higher by Rs 5 each to Rs 765-920 and Rs 920-1,020 per tin.

Soyabean refined mill delivery (Indore) traded higher by Rs 30 to Rs 6050, while palm oil (ex-kandla) and palmolein (rbd) oils moved up by Rs 50 and  Rs 30 to Rs 5,300 and Rs 5,900 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) 5,700, Mustard Pakki ghani (per tin) 765-920, Mustard kachi ghani (per tin) 920-1,020, Sunflower 6,300, Sesame mill delivery 6,200

soybean Refined mill delivery (Indore) 6,050, Soyabean degum (Kandla) 5,670, Crude Palm Oil (Ex-kandla) 5,300, Cottonseed mill delivery (Haryana) 5,400, Palmolein (RBD) 5,900, Rice bran (phy) 3,750 and Coconut (per tin) 1,250-1,310

Non-edible oils: Linseed 4,450, Mahuwa 4,000, Castor 8,400-8,500, Neem 3,900-4,000, 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