Select edible oils up on seasonal demand

Select edible oil prices recovered up to Rs 20 per quintal in the wholesale oils and oilseeds market today on pick up in seasonal demand amid firming global trend.

Trading sentiment turned better as palm oil climbed to a a 29-month high in global market on concern that a drop in output and stockpiles in Malaysia, the second-biggest grower, will add to supply worries.

Meanwhile, palm oil futures for February-delivery advanced 1.3 per cent to $1,160 metric tonne, the highest price since July 4, 2008, on the Malaysia Derivatives Exchange.

Besides pick up in retailers demand on account of the ongoing marriage season, also supported the uptrend in select wholesale edible oil prices, traders said.

In the national capital, palmolein (rbd) and crude palm oil (ex-kandla) were up by Rs 20 each to Rs 5,810 and Rs 5,200 per quintal.

Groundnut solvent refined and coconut oil were also seen in demand and gained Rs 10 each to Rs 1,425-1,435 and Rs 1,250-1,310 per tin. 

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) 5,620, Mustard Pakki ghani (per tin) 760-915, Mustard kachi ghani (per tin) 915-1,015, Sunflower 6,300, Sesame mill delivery 6,170

soybean Refined mill delivery (Indore) 5,830, Soyabean degum (Kandla) 5,500, Crude Palm Oil (Ex-kandla) 5,200, Cottonseed mill delivery (Haryana) 5,350, Palmolein (RBD) 5,810, Rice bran (phy) 3,750 and Coconut (per tin) 1,250-1,310

Non-edible oils: Linseed 4,400, Mahuwa 4,000, Castor 8,400-8,500, Neem 3,850-3,950, 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