Select edible oils recover on fresh demand, global cues

NEW DELHI: Prices of palmolein (RBD) and crude palm oil (CPO) rose up to Rs 50 per quintal on the wholesale oils and oilseeds market today, supported by increased buying by local parties and a firming trend overseas.

Other edible and non-edible oils, however, in a range-bound movements settled flat.

Sentiments in edible oils turned slightly better after palm oil staged a recovery in overseas markets.

Meanwhile, palm oil for August delivery gained 2 per cent to USD 1,012 per tonne on the Malaysian Derivatives Exchange.

In the national capital, crude Palm oil (Ex-kandla) traded Rs 50 higher at Rs 7,250 per quintal, while palmolein (RBD) up by Rs 20 at Rs 7,990 per quintal.

Soyabean refined mill delivery (Indore) also found some support and recovered marginally by Rs 10 to Rs 7,880 per quintal.