Edible oils up on millers buying, global cues

Buoyed by firming trend and increased demand from vanaspati units, select edible oil prices rose up to Rs 50 per quintal on the wholesale oils and oilseeds market today.

Rising demand from local parties, driven by ongoing marriage season, also influenced prices.

Sentiments in edible oils remained firm largely on the back of strong trend in Malaysian palm oil, which advanced for the second day to two-week high as rain in Argentina's drought-hit soyabean areas was insufficient to aid the crop, traders said.

Meanwhile, palm oil futures for April-month delivery rose 0.4 per cent, to $1,225 per tonne, the highest level.

In the national capital, crude palm oil (ex-kandla) and palmolein (RBD) rose by Rs 50 each to Rs 5,350 and Rs 6,220 per quintal, respectively. Soyabean refined mill delivery and soyabean degum (Kandla) up by Rs 20 each to Rs 6,540 and Rs 6,170 per quintal. 

Mustard expeller (dadri) edged up by Rs 10 to Rs 6,080 per quintal on increased demand from local parties.  

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) 1065-1140

Edible oils: Groundnut mill delivery (Gujarat) 7,500, groundnut Solvent refined (per tin) 1,400-1,410, Mustard Expeller (Dadri) 6,080, Mustard Pakki ghani (per tin) 775-930, Mustard kachi ghani (per tin) 930-1,030, Sunflower 6,300, Sesame mill delivery 6,400

soybean Refined mill delivery (Indore) 6,540, Soyabean degum (Kandla) 6,170, Crude Palm Oil (Ex-kandla) 5,350, Cottonseed mill delivery (Haryana) 5,720, Palmolein (RBD) 6,220, Rice bran (phy) 3,750 and Coconut (per tin) 1,440-1,500

Non-edible oils: Linseed 4,600, Mahuwa 4,000, Castor 8,650-8,750, Neem 4,150-4,250, 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