Select edible oils recover on millers buying

NEW DELHI: Select edible oil prices recovered up to Rs 50 per quintal on the wholesale oils and oilseeds market today on buying by vanaspati millers to meet the on-going festive season demand.

Trading sentiment turned better as palm oil futures climbed after the biggest weekly drop in more than 10 months lured some investors and as rival soybean oil advanced on concerns that dry weather will reduce yields in the US, the largest grower and exporter.

However, non-edible oils remained flat in restricted buying activity.

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

Meanwhile, palm oil futures for the November-delivery contract added 0.9 per cent to 821 dollar a metric tonne on the Malaysia Derivatives Exchange.

In the edible section, mustard expeller oil (Dadri) gained Rs 50 to Rs 5,300 per quintal.

Soyabean refined mill delivery (Indore) and palmolein (rbd) rose by Rs 30 each to Rs 4,930 and Rs 4,900, while crude palm oil (ex-kandla) edged up by Rs 20 to Rs 4,150 per quintal.

Following are today's quotations in Rs per quintal: Oilseeds: mustard seed 2,500-2,600 and groundnut seed 2,100-2,850.

Vanaspati ghee (15 litres tin) 750-860. Edible oils: Groundnut mill delivery (Gujarat) 8,400, groundnut Solvent refined (per tin) 1,450-1,460, Mustard Expeller (Dadri) 5,300, Mustard Pakki ghani (per tin) 710-865, Mustard kachi ghani (per tin) 865-965, Sunflower 6,300, Sesame mill delivery 5,900, soybean Refined mill delivery (Indore) 4,930 Soyabean degum (Delhi) 4,700, Crude Palm Oil (Ex-kandla) 4,150, Cottonseed mill delivery (Haryana) 4,650, Palmolein (RBD) 4,900, Rice bran (phy) 3,750 and Coconut (per tin) 1,050-1,080.

Non-edible oils: Linseed 4,150, Mahuwa 4,050, Castor 7,800-7,900, Neem 3,750-3,850, Rice bran 3,300-3,400 and palm fatty 3,225-3,300.

Oilcakes: groundnut de-husk 800-850, sesame 950-1,150, Mustard (new) 1,025-1,050, Mustard 1,200-1,210 and Cottonseed 1,075-1,175.