Select edible oils showed some strength and recovered by up to Rs 50 per quintal in the wholesale oils and oilseeds market today on emergence of buying at existing low levels amid a firming trend in Malaysia.
Buying activity in edible oil picked up after palm oil advanced in Malaysia as commodities rebounded from the biggest weekly slump since 2008, on signs that an improving US economy may increase demand for raw materials.
Meanwhile, palm oil for the July delivery contract increased by one per cent to $1,081 a metric tonne on the Malaysia Derivatives Exchange.
Besides, a firming trend in Malaysia, fresh buying by vanaspati millers and retailers led to recovery in select edible oil prices.
In the national capital, soyabean refined mill delivery (Indore) and soyabean (Kandla) oils gained Rs 20 each to Rs 6,100 and Rs 5,750, respectively, while crude palm oil (ex-kandla) traded higher by the same margin to Rs 5,200 per quintal.
Palmolein (rbd) and palmolein (kandla) oils also moved up by Rs 50 each to Rs 5,750 and Rs 5,450 per quintal, respectively.
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) 1,065-1,140
Edible oils: Groundnut mill delivery (Gujarat) 8,000, groundnut Solvent refined (per tin) 1,350-1,360, Mustard Expeller (Dadri) 5,350, Mustard Pakki ghani (per tin) 750-905, Mustard kachi ghani (per tin) 905-1,005, Sunflower 6,300, Sesame mill delivery 6,180
soybean Refined mill delivery (Indore) 6,100, Soyabean degum (Kandla) 5,750, Crude Palm Oil (Ex-kandla) 5,200, Cottonseed mill delivery (Haryana) 5,450, Palmolein (RBD) Rs 5,750 Palmolein (Kandla) 5,450, Rice bran (phy) 3,750 and Coconut (per tin) 1,600-1,660
Non-edible oils: Linseed 4,500, Mahuwa 4,000, Castor 8,450-8,550, Neem 4,000-4,100, Rice bran 3,300-3,400 and palm fatty 3,225-3,300
Oilcakes: groundnut dehusk 800-850, sesame 950-1,150, Mustard (new) 1,000-1,025, Mustard 1,200-1,210 and Cottonseed 1,075-1,175
