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Edible oils strengthen on festive demand, global cues

Edible oil prices rose by upto Rs 100 per quintal in the wholesale oils and oilseeds market today on pick up in festive demand amid a firm global trend.

October 19, 2012 / 05:25 PM IST

Edible oil prices rose by upto Rs 100 per quintal in the wholesale oils and oilseeds market today on pick up in festive demand amid a firm global trend. Castor oil in the non-edible section also moved up on increased offtake by industrial units. Traders said sentiment remained firm as palm oil advanced in overseas markets on speculation that China, the biggest cooking oil consumer, will boost imports.


Meanwhile, palm oil for January delivery jumped 1.1 per cent to USD 827 a tonne on the Malaysia Derivatives Exchange. In addition, pick up in domestic demand in view of festive season also supported the uptrend in edible oil prices, traders said. Increased industrial offtake against limited arrivals helped castor oil prices to trade higher, they said.


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In the national capital, groundnut mill delivery (Gujarat) and mustard expeller (Dadri) oils rose by Rs 50 each to Rs 11,850 and Rs 8,300 per quintal, respectively. Sesame and cottonseed mill delivery (Haryana) oils also moved up by the same margin to Rs 8,700 and Rs 7,200 per quintal, respectively.


Taking positive cues from overseas markets, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils gained Rs 100 each to Rs 7,500 and Rs 7,100,respectively. Crude palm (ex-kandla) traded higher by Rs 50 to Rs 7,300 per quintal. Palmolein (rbd) and palmolein (Kandla) oils followed suit and jumped up by Rs 100 each to Rs 7,650 and Rs 7,200 per quintal, respectively.


In the non-edible section, castor oil traded higher by Rs 50 to Rs 8,650-8,750 per quintal.


The following were today's quotations per quintal: Oilseeds: Mustardseed 2,950-3,050 and Groundnut Seed 2,150-2,900. Vanaspati Ghee (15-litre tin) 1,100-1,250. Edible oils: Groundnut Mill Delivery (Gujarat) 11,850, Groundnut Solvent Refined (per tin) 1,900-1,950, Mustard expeller (Dadri) 8,300, Mustard Pakki Ghani (per tin) 1,210-1,350, Mustard Kachi Ghani (per tin) 1,365-1,465, Sunflower 6,300, Sesame Mill Delivery 8,700, Soybean Refined Mill Delivery (Indore) 7,500, Soyabean Degum (Kandla) 7,100, Crude Palm Oil (Ex-Kandla) 7,300, Cottonseed Mill Delivery (Haryana) 7,200, Palmolein (RBD) Rs 7,650, Palmolein (Kandla) 7,200, Rice Bran (phy) 3,800 and Coconut(per tin) 1,300-1,350.

Non-edible oils: Linseed 5,750, Mahuwa 4,000, Castor 8,650-8,750, Neem 4,600-4,700, 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.

first published: Oct 19, 2012 03:19 pm

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