Edible oils strengthen on rising demand

Select edible oils strengthened up to Rs 50 per quintal on the wholesale oils and oilseeds market today on the back of sustained buying by vanaspati millers to meet the ongoing marriage season demand.

Neem oil, in the non-edible section, also went up on increased industrial offtake.

Traders said sustained buying by vanaspati millers for the marriage season amid decline in arrivals mainly helped select wholesale edible oil prices to strengthen.

They said a firm trend in producing regions also influenced the trading sentiment. In the national capital, mustard expeller oil (Dadri) gained Rs 20 to 5,720 per quintal on local buying, support.

Cottonseed mill delivery (Haryana) oil followed suit and traded higher by the same margin to Rs 5,420 per quintal.    

Coconut oil moved up by Rs 50 to Rs 1,300-1,360 per tin on higher southern region advices.

In the non-edible sector, neem oil also gained Rs 50 to Rs 3,950-4,050 per quintal on increased offtake from soap units.

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) 5,720, 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) 6,070, Soyabean degum (Kandla) 5,680, Crude Palm Oil (Ex-kandla) 5,310, Cottonseed mill delivery (Haryana) 5,420, Palmolein (RBD) 5,900, Rice bran (phy) 3,750 and Coconut (per tin) 1,300-1,360

Non-edible oils: Linseed 4,500, Mahuwa 4,000, Castor 8,450-8,550, Neem 3,950-4,050, 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