Mustard oil prices jump as demand exceeds supplies

NEW DELHI: Mustard oil prices strengthened by Rs 50 per quintal at the wholesale oils and oilseeds market on Friday amid rising demand against tight supplies from mustard oil producing belts.

However, other edible and non-edible oils continued to move in a narrow range in limited deals and settled around previous day levels. Mustard seed was quoting around Rs 2,950-3,050 per quintal; Vanaspati Ghee tin was trading in the range of Rs 960-1,130 per 15-litre.

Traders said apart from rising demand from millers and retailers, tight supplies following reports of likely fall in production mainly kept mustard oil higher.

In the national capital, mustard expeller (Dadri) oil added another Rs 50 to Rs 7,450 per quintal.