Edible oils up on global cues, millers buying

Dec 03 2012, 15:48 IST
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SummaryCrude palm oil and soybean refined oil prices rose up to Rs 50 per quintal on the wholesale oils and oilseeds market today.

Buoyed by a firming trend overseas and increased buying by vanaspati units, crude palm oil and soybean refined oil prices rose up to Rs 50 per quintal on the wholesale oils and oilseeds market today.

However, other edible and non-edible oils continued to move in a narrow range in scattered deals and settled around previous levels.

Traders attributed rise in select edible oil prices to a firming trend in the global markets on Chinese demand outlook and increased demand from millers.

Meanwhile, palm oil for February delivery climbed as much as 1.5 per cent to 2,405 ringgit (USD 790) a metric tonne on the Malaysia Derivatives Exchange.

In the national capital, crude palm oil (ex-kandla) and palmolein (RBD) strengthened by Rs 50 each to Rs 7,100 and Rs 7,200 per quintal, while soyabean refined mill delivery (Indore) gained Rs 40 at Rs 7,090 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) 12,100, Groundnut Solvent Refined (per tin) 1,900-1,950, Mustard expeller (Dadri) 8,350, Mustard Pakki Ghani (per tin)

1,240-1,380, Mustard Kachi Ghani (per tin) 1,395-1,495, Sunflower 6,300, Sesame Mill Delivery 8,800, Soybean Refined Mill Delivery (Indore) 7,090, Soyabean Degum (Kandla) 6,650, Crude Palm Oil (Ex-Kandla) 7,100, Cottonseed Mill Delivery (Haryana) 6,900, Palmolein (RBD) Rs 7,200, Palmolein (Kandla) 6,700, Rice Bran (phy) 3,800 and Coconut (per tin) 1,350-1,400.

Non-edible oils: Linseed 5,900, Mahuwa 4,000, Castor 8,700-8,800, Neem 4,650- 4,750, 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.

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