Edible oils recover on fresh buying, global cues

Edible oil prices recovered up to Rs 200 per quintal at the oils and oilseeds market today following fresh buying by vanaspati millers for the marriage season coupled with higher global trend.
Linseed oil in the non-edible section also went up on increased demand from paint industries.
Marketmen said fresh buying by vanaspati millers for the marriage season amid a firm global trend, where palm oil advanced to a two-week high on speculation that a weakening Malaysian currency may spur demand for ringgit-denominated futures, mainly influenced the sentiment.
Meanwhile, palm oil climbed 0.4 per cent to 2,597 ringgit (USD 781) a tonne, the highest level since January 6 on the Malaysia Derivatives Exchange.

In the national capital, groundnut mill delivery (Gujarat) and mustard expeller (Dadri) oil recovered by Rs 100 and Rs 50 to Rs 7,900 and Rs 7,250 per quintal, respectively.
Tracking a firm global trend, palmolein (rbd) and palmolein (Kandla) oils shot up by Rs 200 each to Rs 6,400 and Rs 6,000 per quintal, respectively.
Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils also enquired higher by Rs 100 each to Rs 7,200 and Rs 6,900 per quintal, respectively.
In the non-edible section, linseed oil rose by Rs 50 to Rs 7,350 per quintal on increased demand from paint industries.