09/09/2007 (The Economic Times), NEW DELHI - Edible oil prices firmed up in the oils and oilseeds market during the week under review on revival of buying by vanaspati millers ahead of the festive season. On the other hand, some non-edible oils quoted higher on increased industrial demand and settled with gains.
The market remained closed on Tuesday on account of Janmaastmi. Marketmen said fresh pick up in demand in view of coming festivals against restricted arrival mainly pushed up edible oil prices. They said reports of firming trend in global markets too had positively impacted the market sentiment to some extent.
In the edible section, Mustard expeller oil edged up to Rs 4,900 from previous week’s closing of Rs 4,830 a quintal on fresh demand from local parties. Sesame and cottonseed mill delivery oils moved up to close higher at Rs 4,950 and Rs 4,800 as compared to last closing of Rs 4,900 and Rs 4,580 a quintal respectively on increased buying by vanaspati millers.Soyabean refined mill delivery shot up by Rs 100 at Rs 4,950 while soyabean degum (Delhi) was up by Rs 40 at Rs 4,720 a quintal, respectively.
Crude palm oil (ex-kandla) and Palmoline (RBD) oils also jumped up to Rs 4,190 and Rs 4,850 per quintal respectively on higher advices from producing regions.