NEW DELHI, Oct 8: Firm conditions continued unabated at the wholesale oils and oilseeds market today with prices of select edible oils rising further up to Rs 50 per quintal largely on increased offtake by local parties driven by festive season and a firming trend in the global market.
In the non-edible segment, neem oil also showed some strength on industrial demand.
Traders said an upward trend in select edible oil prices was mostly supported by rising demand from retailers and millers triggered by ongoing Navratra festival and a firming trend in the overseas markets.
In the international market, palm oil rose further by one per cent to trade at three-week high of USD 732 a tonne on the Bursa Malaysia Derivatives on speculation that rains in the US may delay harvesting of soybeans crushed to produce a substitute oil.
In the national capital, mustard expeller (Dadri) gained Rs 20 Rs 7,100 per quintal, while cottonseed mill (Haryana) delivery oil gained Rs 30 at Rs 6,230 per quintal on retailers demand.
Crude Palm Oil (ex-kandla), Palmolein (RBD) and Palmolein (Kandla) gained Rs 50 each at Rs 5,270, Rs 6,120 and Rs 5,720 per quintal, respectively, largley in tune with a firming trend in Malaysian palm oil.
In the non-edible section, neem oil traded Rs 20 higher at Rs 5,070-5,170 per quintal on increased enquiries from consuming industries.
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) 8,580, Groundnut Solvent Refined (per tin) 1,990-2,040, Mustard expeller (Dadri) 7,100, Mustard Pakki Ghani (per tin) 1,260-1,340, Mustard Kachi Ghani (per tin) 1,345-1,445, Sunflower 6,300, Sesame Mill Delivery 9,100, Soybean Refined Mill Delivery (Indore) 6,800, Soyabean Degum (Kandla) 6,500, Crude Palm Oil (Ex-Kandla) 5,270, Cottonseed Mill Delivery (Haryana) 6,230, Palmolein (RBD) Rs 6,120, Palmolein (Kandla) 5,720, Rice Bran (phy) 3,800 and Coconut (per tin)1,350-1,400.
Non-edible oils: Linseed 6,400, Mahuwa 4,000, Castor 9,250-9,350, Neem 5,070-5,170, Rice Bran 3,200-3,300 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. (PTI)
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