Select edible oils rise on Vanaspati millers' buying

Select edible oil prices advanced by Rs 50 per quintal at the wholesale oils and oilseeds market today on emergence of buying by Vanaspati millers amid up-tick in demand.

In the non-edible section, castor oil, too, went up on increased offtake by consuming industries.

Traders said, fresh buying by Vanaspati millers following pick-up in demand from retailers against restricted supplies from producing belts mainly led to rise in select edible oil prices.

Meanwhile, the centre yesterday raised the import duty by 5-10 per cent on non-palm edible oils, both crude and refined ones in order to protect the interest of domestic oilseeds growers and processors.

 

In March, the government had raised the import duty on crude palm oils from 30 per cent to 44 per cent, while that on refined palm oils to 54 per cent from 40 per cent.

In the national capital, palmolein (RBD) and palmolein (Kandla) oils were up by Rs 50 each to Rs 7,150 and Rs 7,200 per quintal, respectively.

Soybean mill delivery (Indore) and soyabean degum (Kandla) oils also traded higher by a similar margin to Rs 7,650 and Rs 7,250 per quintal, respectively.

Mustard expeller (Dadri) oil too edged up by Rs 50 to Rs 7,750 per quintal.

Among non-edibles, castor oil enquired higher by Rs 100 to Rs 7,000-7,100 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 8,250, Groundnut Solvent Refined (per tin) Rs 1,700-1,800, Mustard expeller (Dadri) Rs 7,750, Mustard Pakki Ghani (per tin) Rs 1,275-1,320, Mustard Kachi Ghani (per tin) Rs 1,325-1,425, Sesame Mill delivery Rs 9,500, Soybean Refined Mill Delivery (Indore) Rs 7,650, Soybean Degum (Kandla) Rs 7,250, Crude Palm Oil (Ex-Kandla) Rs 5,500, Cottonseed Mill Delivery (Haryana) Rs 7,200, Palmolein (RBD) Rs 7,150,Palmolein (Kandla) Rs 7,200 and Coconut (per tin) Rs 3,100-3,150.

Non-edible oils: Linseed Rs 8,900, Castor Rs 7,000-7,100, Neem Rs 5,350-5,450.