NEW DELHI, May 11: Mixed conditions prevailed on the wholesale oils and oilseeds market during the past week with select edible oil prices rising on increased buying by vanaspati millers amid a firming global trend while a few others remained weak on adequate supplies.
A few oils in the non-edible section, also moved up on increased offtake by industrial units and other consuming industries.
Traders said increased buying by vanaspati millers and a firm global trend as inventories in Malaysia, the world’s second-largest producer, dropped to a 10-month-low, mainly influenced select prices.
Meanwhile, palm oil gained 3 per cent at USD 776 a tonne this week on Malaysia Derivatives.
Adequate supplies on increased arrivals from producing belts kept pressure on other edible oil prices, they said.
In the national capital, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils rose by Rs 50 and Rs 100 to Rs 7,350 and Rs 6,950 per quintal, respectively on firming global trend.
On the other hand, groundnut mill delivery oil (Gujarat) fell by Rs 300 to 10,500, while mustard expeller (Dadri) and cottonseed mill delivery (Haryana) oils declined by Rs 100 each to Rs 6,450 and Rs 6,100 per quintal, respectively.
Meanwhile, sesame oil moved in a narrow range on alternate bouts of trading and settled around previous level of Rs 13,000 per quintal.
In the non-edible section, linseed oil rose by Rs 50 to Rs 6,450 per quintal on fresh paint industries enquiries.
Castor oil also moved up by Rs 50 to Rs 8,850-8,950 per quintal on increased industrial offtake. (PTI)
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