Select edible oil ends higher on festive demand

NEW DELHI: Select edible oil prices strengthened on the wholesale oils and oilseeds market during the past week on fresh buying by vanaspati millers to meet the ongoing festive season demand.

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

Traders said fresh buying by vanaspati millers and retailers for the festive season demand mainly led to rise in select wholesale edible oil prices.

They said increased demand from consuming industries helped select non-edible oil prices to rise.

In the national capital, mustard expeller oil (Dadri) which remained steady in major part of week, met with local buying and ended higher by Rs 50 to Rs 8,300 per quintal.

Sesame and cottonseed mill delivery (Haryana) oils rose by Rs 50 each to Rs 8,750 and Rs 7,150 per quintal, respectively, on fresh buying by vanaspati millers to meet the festive season demand.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils followed suit and finished higher by the same margin to Rs 7,600 and Rs 7,200 per quintal, respectively.

Palmolein (rbd) and palmolein (Kandla) oils too traded in positive zone with a gain of Rs 20 each to Rs 7,700 and Rs 7,250 per quintal, respectively.

In the non-edible section, linseed oil rose by Rs 50 to Rs 5,900 per quintal on some enquiries from paint industries.

Neem oil moved up by Rs 50 to Rs 4,650-4,750 per quintal on increased demand from soap manufacturers.