Edible oils zoom on paucity of stocks
The reports of cut in import duty on vegetable oils by government was the another factor behind the rise of prices.
By PTI |
NEW DELHI: Prices of edible oils moved up in the oils and oilseeds market here on Monday on account of brisk buying by stockists amid poor supply.
However, non-edible oils continued to be asked at previous closing levels on sporadic buying interest.
Marketmen said paucity of ready stocks pushed up the prices of edible oils.
The reports of cut in import duty on vegetable oils by government was the another factor behind the rise of prices.
In edible oils section, the prominent gainer was sesame oil, which zoomed to finish higher by Rs 300 at Rs 7,100 a quintal on hectic buying by vanaspati mills.
Rice bran oil shot up by Rs 250 to Rs 4,850 a quintal on speculative buying.
Soyabean refined mill delivery and soyabean degumm Delhi also added gain of Rs 200 each at Rs 6,050 and Rs 5,900 a quintal on heavy buying interest.
Prices of crude palm oil ex-kandla rose smartly by Rs 270 at Rs 5,100 a quintal following higher Malaysian advices.
Palmoline rbd also moved up in line with crude palm oil and quoted higher by Rs 100 to Rs 5,700 a quintal.
Cottonseed mill delivery oil jumped up by Rs 170 at Rs 5,470 a quintal on increased vanaspati mills buying.
Mustard expeller oil also registered fresh gain of Rs 100 at Rs 5,650 a quintal on better offtake.
However, non-edible oils continued to be asked at previous closing levels on sporadic buying interest.
Marketmen said paucity of ready stocks pushed up the prices of edible oils.
The reports of cut in import duty on vegetable oils by government was the another factor behind the rise of prices.
In edible oils section, the prominent gainer was sesame oil, which zoomed to finish higher by Rs 300 at Rs 7,100 a quintal on hectic buying by vanaspati mills.
Rice bran oil shot up by Rs 250 to Rs 4,850 a quintal on speculative buying.
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Soyabean refined mill delivery and soyabean degumm Delhi also added gain of Rs 200 each at Rs 6,050 and Rs 5,900 a quintal on heavy buying interest.
Prices of crude palm oil ex-kandla rose smartly by Rs 270 at Rs 5,100 a quintal following higher Malaysian advices.
Palmoline rbd also moved up in line with crude palm oil and quoted higher by Rs 100 to Rs 5,700 a quintal.
Cottonseed mill delivery oil jumped up by Rs 170 at Rs 5,470 a quintal on increased vanaspati mills buying.
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Mustard expeller oil also registered fresh gain of Rs 100 at Rs 5,650 a quintal on better offtake.
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