Select edible oils prices up on fresh millers buying
Linseed oil in the non-edible section, also moved up on increased demand from paints industries. Traders said sentiment turned better after palm oil advanced to the highest level in three weeks in overseas markets on speculation that a rally in soybean oil will boost demand for the cheaper alternative and drain record reserves in Malaysia.
Meanwhile, palm oil for the contract for delivery in April climbed 0.7 per cent to USD 816 a tonne on the Malaysia Derivatives Exchange, the highest closing since January 2.
In the national capital, groundnut mill delivery (Gujarat)and mustard expeller (Dadri) oils rose by Rs 50 each to Rs 12,350 and Rs 8250 per quintal respectively.
Taking postive cues from overseas markets, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils recovered by Rs 50 each to Rs 7,650 and Rs 7,200, while crude palm oil (ex-kandla) traded higher by similar margin to Rs 7,500 per quintal respectively.
Similarly, palmolein (rbd) and palmolein (Kandla) oils up by Rs 50 each at Rs 7,600 and Rs 7,100 per quintal respectively.
In the non-edible section, linseed oil rose by Rs 50 toRs 6,250 per quintal on increased demand from paint's industries.
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