Palmolein, soyabean oils rise on pick-up in demand

NEW DELHI: Prices of palmolein and soyabean oils rose by Rs 50 per quintal at the wholesale oilseeds market today on increased buying by vanaspati millers amid pick-up in demand from local parties.

However, other edible and non-edible oils moved in a narrow range in scattered deals and settled at previous levels.

Traders said fresh buying by vanaspati millers led to the rise in palmolein and soyabean oil prices.

In the national capital, palmolein (rbd) and palmolein (Kandla) oils moved up by Rs 50 each to Rs 5,650 and Rs 5,450 per quintal, respectively.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) also rose by a similar margin to trade at Rs 6,450 and Rs 6,150 per quintal, respectively.