Weekly report: Edible oils recover on millers buying, global cues
A few oils in the non-edible section, also showed strength on increased offtake by consuming industries.
Traders said trading sentiment turned better as palm oil climbed to the highest level in more than three weeks in global markets after data signaled a recovery in the US economy, boosting prospects for demand.
Meanwhile, palm oil futures gained 5.9 per cent this week on the Malaysia Derivatives Exchange, the highest price since November 27.
In the national capital, groundnut mill delivery oil (Gujarat) climbed by Rs 250 to Rs 12,250 per quintal on day-to-day increased demand from retailers. Groundnut solvent refined oil gained Rs 50 to Rs 2,000-2,050 per tin.
Mustard expeller oil (Dadri) rose by Rs 50 to Rs 8,400 per quintal on local demand. Sesame and cottonseed mill delivery (Haryana) oils moved up by Rs 250 and Rs 70 to Rs 9,000 and Rs 6,950 per quintal, respectively.
Taking positive cues from overseas markets, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils rose by Rs 50 each to Rs 7,150 and Rs 6,700 per quintal.
Palmolein (rbd) and Palmolein (Kandla) oils followed suit and traded higher by the same margin to Rs 7,200 and Rs 6,700 per quintal, respectively.
In the non-edible section, linseed oil found fresh buying support from paint's industries and shot
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