Sesame, palmolein oils trade up on fresh buying

NEW DELHI: Prices of sesame and palmolein oils rose up to Rs 300 per quintal on the wholesale oils and oilseeds market today on fresh buying by vanaspati millers amid a firm global trend.

Neem oil in the non-edible section, also found scattered buying support from consuming industries and ended higher.

Traders said increased buying by vanaspati millers amid a firm global trend on speculation that prices at near four-month low will increase demand for the tropical commodity used in food and fuel, mainly influenced the sentiment.

Meanwhile, palm oil for July delivery climbed 0.4 per cent to USD 763 a tonne on the Bursa Malaysia Derivatives Exchange.

In the national capital, sesame mill delivery oil shot up by Rs 300 to Rs 13,000 per quintal on fresh vanaspati millers buying.

Taking positive cues from overseas markets, palmolein (rbd) and palmolein (Kandla) oils moved up by Rs 100 each to Rs 6,950 and Rs 6,450 per quintal, respectively.

In the non-edible section, neem oil gained Rs 50 to Rs 5,000-5,100 per quintal.