Edible oils strengthen on rising demand, global cues
PTI|
Feb 24, 2018, 02.27 PM IST
Coconut oil quoted higher at Rs 3,100-3,150 instead of Rs 3,000-3,050 per tin.
NEW DELHI: Edible oil prices strengthened at the wholesale oils and oilseeds market during the week largely on rising demand from vanaspati millers and retailers amid firm trend overseas.
Linseed oil in the non-edible section, also edged up on pick-up in demand from paint industries.
Traders said besides rising demand from vanaspati millers and retailers, restricted supplies from producing regions and firm global cues mainly led to the rise in edible oil prices.
Globally, the benchmark palm oil contract for May delivery for the week was up 0.06 per cent at 2,523 ringgit (USD 644.12) a tonne on the Bursa Malaysia Derivatives Exchange.
In the national capital, mustard expeller (Dadri), sesame mill delivery and cottonseed mill delivery (Haryana) oils went up by Rs 50 each to Rs 8,000, Rs 8,800 and Rs 6,900 per quintal respectively.
Tracking a firm trend overseas, palmolein (RBD) and palmolein (Kandla) oils also traded higher up by Rs 50 each to Rs 6,450 and Rs 6,500 per quintal respectively.
Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils too enquired higher by a similar margin to Rs 7,750 and Rs 7,350 per quintal, respectively.
Coconut oil quoted higher at Rs 3,100-3,150 instead of Rs 3,000-3,050 per tin.
In the non-edible section, linseed oil went up by Rs 150 to Rs 9,150 per quintal.
However, castor oil slipped by Rs 100 to Rs 7,800-7,900 per quintal on reduced industrial offtake.
Linseed oil in the non-edible section, also edged up on pick-up in demand from paint industries.
Traders said besides rising demand from vanaspati millers and retailers, restricted supplies from producing regions and firm global cues mainly led to the rise in edible oil prices.
Globally, the benchmark palm oil contract for May delivery for the week was up 0.06 per cent at 2,523 ringgit (USD 644.12) a tonne on the Bursa Malaysia Derivatives Exchange.
In the national capital, mustard expeller (Dadri), sesame mill delivery and cottonseed mill delivery (Haryana) oils went up by Rs 50 each to Rs 8,000, Rs 8,800 and Rs 6,900 per quintal respectively.
Tracking a firm trend overseas, palmolein (RBD) and palmolein (Kandla) oils also traded higher up by Rs 50 each to Rs 6,450 and Rs 6,500 per quintal respectively.
Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils too enquired higher by a similar margin to Rs 7,750 and Rs 7,350 per quintal, respectively.
Coconut oil quoted higher at Rs 3,100-3,150 instead of Rs 3,000-3,050 per tin.
In the non-edible section, linseed oil went up by Rs 150 to Rs 9,150 per quintal.
However, castor oil slipped by Rs 100 to Rs 7,800-7,900 per quintal on reduced industrial offtake.
