Prices of soyabean and palmolein oil firmed up by up to Rs 100 per quintal at the wholesale oils and oilseeds market during the week on sustained buying by vanaspati millers, driven by pick-up in demand from retailers amid firm global cues.
Castor and linseed oils, in the non-edible section, ended higher due to increased offtake by the consuming industries.
Marketmen said increased offtake by vanaspati millers to meet the rising demand from retailers against paucity of stocks on fall in arrivals from producing belts amid a firm trend overseas attributed to the rise in soyabean and palmolein oil prices.
In the national capital, soya bean refined mill delivery (Indore) and soya bean degum (Kandla) oils advanced by Rs 100 each to Rs 7,800 and Rs 7,400 per quintal, respectively.
Palmolein (RBD) and palmolein (Kandla) oils also went up by Rs 50 each to Rs 7,300 and Rs 7,350 per quintal respectively.
On the other hand, groundnut mill delivery (Gujarat) oil fell by Rs 100 to Rs 8,400 per quintal.
In the non-edible section, castor oil moved up by Rs 200 to Rs 7,400-7,500 per quintal on increased industrial offtake.Linseed oil also edged up by Rs 100 to Rs 8,900 per quintal on pick up in demand from paint industries.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)