Select edible oils move up on rising demand

Prices of select edible rose by up to Rs 100 per quintal at the wholesale oils and oilseeds market today on persistent buying by vanaspati millers and retailers against restricted supplies from producing belts amid firm trend overseas.

Castor oil, in the non-edible section, also strengthened due to increased offtake by consuming industries.

Traders said increased buying by vanaspati millers and retailers against fall in arrivals from producing belts and firm trend overseas, mainly attributed the rise in select edible oil prices.

Meanwhile, India, the world's leading vegetable oil buyer, imported 13.61 lakh tonnes of the commodity in August, up about 21 per cent from the year-ago period, industry body SEA said.
 

In August 2016, vegetable oil imports stood at 11.26 lakh tonnes. The country largely imports palm oil, which constitutes over 60 per cent of the total shipments.

In the national capital, groundnut mill delivery (Gujarat) and mustard expeller oils moved up by Rs 100 and Rs 50 to Rs 8,000 and Rs 7,950 per quintal respectively.

Palmolein (RBD) and palmolein (Kandla) oils advanced by Rs 50 each to Rs 5,950 and Rs 6,000 per quintal respectively.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils followed suit and traded higher by a similar margin to Rs 6,900 and Rs 6,500 per quintal respectively.

In the non-edible segment, castor oil too edged up by Rs 100 to Rs 9,200-9,300 per quintal.

Following are today's quotations (in Rs per quintal):

Oilseeds: Mustard seed Rs 2,950-3,050 and Groundnut seed Rs 2,150-2,900. Vanaspati Ghee (15-litre tin) Rs 800-1,000.

Edible oils: Groundnut Mill Delivery (Gujarat) Rs 8,000, Groundnut Solvent Refined (per tin) Rs 1,450-1,550, Mustard expeller (Dadri) Rs 7,950, Mustard Pakki Ghani (per tin) Rs 1,300-1,345, Mustard Kachi Ghani (per tin) Rs 1,350-1,450, Sesame Mill delivery Rs 7,700, Soybean Refined Mill Delivery (Indore) Rs 6,900, Soybean Degum (Kandla) Rs 6,500, Crude Palm Oil (Ex-Kandla) Rs 4,800, Cottonseed Mill Delivery (Haryana) Rs 6,400, Palmolein (RBD) Rs 5,950, Palmolein (Kandla) Rs 6,000 and Coconut (per tin) Rs 2,050-2,100.

Non-edible oils: Linseed Rs 8,750, Castor Rs 9,200-9,300, Neem Rs 5,350-5,450.