Edible oils show mixed trend

NEW DELHI: The wholesale oils and oilseeds market ended on a mixed note today as select edible oil prices rose on increased buying by vanaspati millers while a few others declined on sufficient supplies.

However, non-edible oils after moving in a narrow range in limited deals settled around previous levels.

Traders said increased buying by vanaspati millers influenced by a firm global trend mainly led to rise in select edible oil prices.

Meanwhile, palm oil for August delivery rose 0.6 per cent to USD 781 a tonne, the highest since April 11 on the Bursa Malaysia Derivatives.

Adequate supplies against lack of buying support kept pressure on other edible oil prices, they said.

In the national capital, tracking a firm global trend, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils added Rs 50 each to Rs 7,450 and Rs 7,050 per quintal, respectively.

Palmolein (rbd) and palmolein (Kandla) oils followed suit and gained Rs 50 each Rs 5,600 and Rs 5,100 per quintal, respectively.

On the other hand, groundnut mill delivery (Gujarat) and sesame mill delivery oils fell by Rs 250 and Rs 300 to Rs 10,000 and Rs 12,000 per quintal on adequate supplies from producing belts. Groundnut solvent refined traded lower by Rs 100 to Rs 2,000-2,050 per tin.