Edible oils recover on festive season demand

NEW DELHI: Edible oil prices recovered on the wholesale market this week on demand amid the ongoing ' Navratras' festive season.


A few oils in the non-edible section, also moved up on increased offtake by consuming industries.

Traders said increased offtake by vanaspati millers to meet the ongoing festive season demand mainly led to a recovery in wholesale edible oil prices.

Increased offtake from consuming industries helped other non-edible oil prices to trade higher, they said.

According to industry data, vegetable oils import rose by 23 per cent during March at 8.96 lakh tonnes on account of rising domestic demand.

In the national capital, mustard expeller oil (Dadri) shot up by Rs 250 to Rs 7,000 per quintal, while mustard pakki and kachi ghani oils traded higher by Rs 20 each to Rs 1,280-1,360 and Rs 1,365-1,465 per tin on pick up in local demand.

Sesame and cottonseed mill delivery (Haryana) oils also jumped up by Rs 500 and Rs 6,300 per quintal on increased buying by vanaspati millers.

In line with a general firm trend, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils spurted by Rs 250 each to Rs 7,000 and Rs 6,550 and crude palm oil (ex-kandla) gained Rs 100 to Rs 6,500 per quintal, respectively.

Palmolein (rbd) and palmolein (Kandla) oils followed suit and climbed by Rs 250 each to Rs 7,000 and Rs 6,500 per quintal, respectively.

In the non-edible section, linseed oil surged by Rs 100 to Rs 6,500 per quintal on fresh enquiries from paint industries.

Castor and neem oils traded higher by Rs 100 and Rs 50 to Rs 8,850-8,950 and Rs 4,950-5,050 per quintal on increased offtake by industrial units.