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Select edible oils extend gains on increased mills buying

NEW DELHI, Feb 1: Select edible oils extended gains for the third straight week on the oils and oilseeds market during the past week and ended higher on increased buying by vanaspati millers for the ongoing marriage season.

A few oils in the non-edible section, also strengthened on increased demand from consuming industries.

Traders said increased buying by vanaspati millers for the ongoing wedding season mainly attributed persistent rise in select edible oil prices.

In the national capital, mustard expeller (Dadri) oil rose by Rs 50 to Rs 7,300 per quintal.

Palmolein (rbd) and palmolein (kandla) also advanced by Rs 100 each to Rs 6,400 and Rs 6,000 per quintal, respectively.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils too traded higher by the same margin to Rs 7,300 and Rs 7,000 per quintal, respectively.

On the other hand, groundnut mill delivery (Gujarat) oil declined by Rs 100 to Rs 7,800 per quintal on increased supplies from producing regions, while cottonseed mill delivery (Haryana) and sesame oils after moving in a tight range on scattered enquiries, settled around previous level of Rs 6,100 and Rs 11,500 per quintal, respectively.

In the non-edible section, linseed and neem oils moved up by Rs 50 each to Rs 7,400 and Rs 5,300-5,400 per quintal, respectively on increased demand from consuming industries. (AGENCIES)


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