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Palmolein and soyabean oil prices strengthened by Rs 100 a quintal on the wholesale oils and oilseeds market on Saturday on increased buying by vanaspati millers for seasonal demand amid a firm trend in the overseas markets.
However, non-edible oils moved in a narrow range in restricted buying activity and settled around previous levels.
Traders said sustained buying by vanaspati millers and reports of a rising trend in the overseas market mainly helped palmolein and soyabean oil prices to strengthen.
In the national capital, palmolein (rbd) and palmolein (Kandla) oils remained in demand and advanced by Rs 100 each to Rs 6,200 and Rs 5,900,while soyabean refined mill delivery oil (Indore) traded higher by the same margin to Rs 6700 a quintal, respectively.
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