Edible oils up on millers buying,global cues

A few oils in the non-edible section also moved up on increased industrial offtake.

Written by Agencies | New Delhi | Published: January 25, 2012 5:27:23 pm

Select edible oil prices rose by up to Rs 100 per quintal in the wholesale oils and oilseeds market today on fresh buying by vanaspati millers to meet the ongoing marriage season demand amid a firming global trend.

A few oils in the non-edible section also moved up on increased industrial offtake.

Marketmen said trading sentiment bolstered after palm oil advanced to the highest level in almost two weeks in global markets on concern that hot,dry weather has hurt South American soybean crops,potentially reducing output of the oilseed that is crushed to make a substitute cooking oil.

Meanwhile,palm oil for the April-delivery contract climbed 0.8 per cent to USD 1,035 a tonne on the Malaysia Derivatives Exchange,the highest price since January 12.

In addition,fresh buying by vanaspati millers for the marriage season also supported the uptrend in edible oil prices.

Increased offtake by industrial units and other consuming industries helped other non-edible oil prices to move up,they said.

In the national capital,sesame and cottonseed mill delivery (Haryana) oils rose by Rs 100 each to Rs 7,700 and Rs 6,800 per quintal,respectively.

Taking a positive cues from overseas markets,soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils moved up by Rs 50 each to Rs 7,330 and Rs 6930,respectively. Crude palm oil (ex-kandla) traded higher by the same margin to Rs 6,900 per quintal.

Palmolein (rbd) and palmolein (Kandla) oils hardened by Rs 50 each to Rs 7,150 and Rs 6,800 per quintal,respectively.

In the non-edible section,castor and neem oils rose by Rs 50 each to Rs 8,400-8,500 and Rs 4,150-4,250 per quintal,respectively.

The following were today’s quotations per quintal:

Oilseeds: Mustard Seed 2,550-2,680 and Groundnut Seed 2,125-2,875.

Vanaspati Ghee (15-litre tin) 1,030-1,090.

Edible oils: Groundnut Mill Delivery (Gujarat) 10,050,Groundnut Solvent Refined (per tin) 1,600-1,650,Mustard Expeller (Dadri) 7,900,Mustard Pakki Ghani (per tin) 1,000-1,155,Mustard Kachi Ghani (per tin) 1,155-1,255,Sunflower 6,300,Sesame Mill Delivery 7,700,Soybean Refined Mill Delivery (Indore) 7,330,Soyabean Degum (Kandla) 6,930,Crude Palm Oil (Ex-Kandla) 6,900,Cottonseed Mill Delivery (Haryana) 6,800,Palmolein (RBD) Rs 7,150,Palmolein (Kandla) 6,800,Rice Bran (phy) 3,800 and Coconut (per tin) 1,550-1,600.

Non-edible oils: Linseed 4,750,Mahuwa 4,000,Castor 8,400-8,500,Neem 4,150-4,250,Rice Bran 3,280-3,380 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.

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