Palmolein oil rises on good demand, global cues

Palmolein oil prices firmed up by Rs 50 per quintal at the wholesale oils and oilseeds market due to pick up in demand from vanaspati millers amid firm global cues.

Linseed oil in the non-edible section also went up on increased offtake by consuming industries.

Traders said besides uptick in demand from vanaspati millers, restricted arrivals from producing belts and a firm trend overseas, mainly attributed the rise in palmolein oil prices.

Meanwhile, the benchmark palm oil for November was up 1.8 percent at 2,298 ringgit (USD 555.47) a tonne on the Bursa Malaysia Derivatives Exchange.

In the national capital, palmolein (rbd) and palmolein (Kandla) oils were up by Rs 50 each to Rs 6,800 and Rs 6,850 per quintal, respectively.

In the non-edible section, linseed oil also traded higher by Rs 100 to Rs 9,600 per quintal on fresh inquiries from paint industries.

Following are today's quotations (in Rs per quintal):

Oilseeds: Mustard seed Rs 2,950-3,050 and Groundnut seed Rs 2,150-2,900, Vanaspati Ghee (15-litre tin) Rs 800-1,000.

Edible oils: Groundnut mill delivery (Gujarat) Rs 9,000, Groundnut Solvent Refined (per tin) Rs 1,750-1,850, Mustard expeller (Dadri) Rs 8,200, Mustard Pakki Ghani (per tin) Rs 1,295-1,340, Mustard Kachi Ghani (per tin) Rs 1,345-1,445, Sesame mill delivery Rs 10,300, Soybean Refined mill

delivery (Indore) Rs 7,750, Soybean Degum (Kandla) Rs 7,350, Crude Palm Oil (Ex-Kandla) Rs 5,600, Cottonseed mill delivery (Haryana) Rs 7,800, Palmolein (RBD) Rs 6,800, Palmolein (Kandla) Rs 6,850 and Coconut (per tin) Rs 3,100-3,150.

Non-edible oils: Linseed Rs 9,600, Castor Rs 7,400-7,500, Neem Rs 5,350-5,450.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)