Select edible oil prices moved up at the wholesale oil and oilseeds market during the last week of 2017 on increased buying by vanaspati millers, driven by pick up in demand from retailers against tight supplies.
Linseed oil in the non-edible section also showed some strength on increased offtake by paint industries.
Traders said increased offtake by vanaspati millers following uptick in demand from retailers against tight stocks position on fall in supplies from producing regions mainly led to rise in select edible oil prices.
In the national capital, groundnut mill delivery (Gujarat) and mustard expeller (Dadri) oils rose by Rs 200 and Rs 50 to Rs 9,700 and Rs 8,000 per quintal respectively.
Sesame and cottonseed mill delivery (Haryana) oils went up by Rs 100 each to Rs 8,600 and Rs 6,700 per quintal respectively.
Coconut oil quoted higher by Rs 200 to Rs 2,950-3,000 per tin.
Tracking a firm trend overseas, palmolein (RBD) and palmolein (Kandla) oils also edged up by Rs 50 each to Rs 6,250 and Rs 6,300 per quintal, respectively.
Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils followed suit and edged up by a similar margin to Rs 7,400 and Rs 7,000 per quintal respectively.
In the non-edible section, linseed oil got fresh buying support from paint industries and ended higher by Rs 100 to Rs 8,900 per quintal.
Disclaimer: No Business Standard Journalist was involved in creation of this content
