Select edible oils up on rising demand

NEW DELHI, Nov 25: Select edible oil prices firmed up at the wholesale oil and oilseeds market during the week on increased offtake by vanaspati millers, driven by rising demand from retailers against tight supplies.
Firm trend overseas also influenced sentiment.
Castor oil in the non-edible section showed some strength on increased offtake by consuming industries.
Traders said increased buying by vanaspati millers to meet rising demand from retailers in view of the ongoing wedding season against tight stocks position on fall in supplies from producing regions mainly led to rise in edible oil prices.
Positive leads from overseas markets also influenced sentiment, they said.
In the national capital, groundnut mill delivery (Gujarat) oil rose by Rs 200 to Rs ,8,900 per quintal.
Mustard expeller (Dadri) and cottonseed mill delivery (Haryana) oils moved up by Rs 150 each to Rs 7,950 and Rs 6,450 per quintal respectively.
Sesame mill delivery also jumped up by Rs 500 to Rs 8,400 per quintal.
Tracking a firm trend overseas, palmolein (RBD) and palmolein (Kandla) oils too shot up by Rs 350 each to Rs 6,450 and Rs 6,500 per quintal respectively. Crude palm oil (ex- kandla) went up by Rs 150 to Rs 5,000 per quintal.
Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils followed suit and enquired higher by Rs 200 each to Rs 7,400 and Rs 7,000 per quintal respectively.
Coconut oil quoted higher at Rs 2,650-2,700 instead of Rs 2,550-2,600 per tin.
In the non-edible section, castor oil got fresh buying support from consuming industries and ended higher by Rs 100 to Rs 8,600-8,700 per quintal. (PTI)


Please enter your comment!
Please enter your name here