Select oil prices up on frantic buying

NEW DELHI: Palmoline prices moved up by Rs 900 per quintal in the wholesale oils and oilseeds market today on restricted arrivals against brisk buying from vanaspati mills.

Marketmen said restricted arrivals from producing regions of Gujarat and Rajasthan mainly created tight stocks position.

They said even a fall in import of oils from main Asian oil markets in Malaysian and Indonesia further reduced the stocks position in the domestic markets.

Groundnut and cottonseed oils also improved due to fall in supply amid increased buying interest.

In edible oils section, palmoline rbd jumped up by Rs 900 to settle at Rs 5,900 a quintal on frantic buying interest.

Groundnut oils too posted higher by Rs 200 to settle at Rs 7,200 a quintal on increased offtake by vanaspati units.

Cottonseed mill delivery oils rose by Rs 50 to conclude at Rs 5,550 a quintal on short supply.