Select edible oils recovered on the wholesale market here this week, snapping their two-week losing streak on fresh demand from vanaspati millers and retailers amid the ongoing festive season. In addition, firming trend overseas too influenced edible oil prices at domestic markets.

A few oils in the non-edible section also showed a firmness on increased offtake by industrial units and other consuming industries.

Sentiment turned better after palm oil advanced in global markets. Palm oil futures gained 2.5 per cent this week, for the first increase in six weeks on the Malaysia Derivatives Exchange.

In the edible section, groundut mill delivery oil (Gujarat) rose by Rs 200 to Rs 8,700 a quintal, while ground nut solvent refined moved up by Rs 100 to Rs 1,550-1,560 a tin.

Mustard expeller oil (Dadri) rose by Rs 70 to Rs 6,010 a quintal and its mustard pakki and kachi ghani oils edged up by Rs 10 each to Rs 770-925 and Rs 925-1,025 a tin.

Sesame mill delivery and cottonseed mill delivery (Haryana) oils hardened by Rs 20 and Rs 50 to Rs 6,200 and Rs 5,550 a quintal respectively. Coconut oil traded higher at Rs 1,750-1,800 from previous level of Rs 1,720-1,780 a tin.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils went up by Rs 60 each to Rs 6,480 and Rs 5,930, while palmolein (rbd) and palmolein (Kandla) oils rose by Rs 50 each to Rs 5,850 and Rs 5,550 a quintal respectively.

In the non-edible oil section, linseed oil which remained steady during the major part of week, found buying support from paint industries at the fag-end and moved up by Rs 50 to Rs 4,550 a quintal. Neem oil also found support from soap Industries and edged up by Rs 50 to Rs 4,050-4,150 a quintal.

Related Topics