Select edible oils up on mills' buying

However, non-edible oils moved in a narrow range for the major part of the week on alternate bouts of trading and settled around previous levels.

Traders said pick-up in buying activity by vanaspati millers and retailers to meet the ongoing wedding season demand mainly led to rise in select wholesale edible oil prices.

They said, however, gains were restricted on weak global trend where palm oil dropped for the third week on speculation stockpiles in Malaysia held near a record in November.

Meanwhile, palm oil lost 3.1 per cent this week on the Malaysia Derivatives Exchange.

In the national capital, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils rose by Rs 90 and Rs 50 to Rs 7,140 and Rs 6,700, while crude palm oil (ex-kandla) edged up by Rs 50 to Rs 7,100 per quintal, respectively, on wedding season demand.

Palmolein (rbd) and palmolein (Kandla) oils followed suit and traded higher by Rs 50 each to Rs 7,200 and Rs 6,700 per quintal, respectively.

On the other hand, groundnut mill delivery oil (Gujarat) lacked necessary buying support and lost Rs 100 at Rs 12,000 per quintal.

In the non-edible section, linseed oil and neem oils moved in a tight range in scattered deals and settled around previous levels of Rs 5,900 and Rs 4,650-4,750 per quintal respectively.

PULSES: Mixed conditions

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