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News Admin
 
Date
 02/11/2007
News Provider
 Kamar Nor Aini Bt Kamarul Zaman
News Source
 The Hindu
Headline
 Edible oils strengthen on pick up in festive demand

31/10/2007 (The Hindu), New Delhi -  Edible oils strengthened further on the wholesale oils and oilseeds market on Wednesday on pick up in festive demand and closed with gains.


Mahua and neem oils in the non-edible section, also seen in industrial demand and gained moderate ground.


Marketmen said increased buying by vanaspati units and retailers on start of festival and marriage season mainly led to rise in edible oil prices.


In the edible oil section, groundnut mill delivery flared up to Rs 6,900 from Rs 6,500 a quintal on higher advices from Gujarat. Groundnut solvent refined followed suit and traded higher at Rs 1,200-1,225 a tin.


Sesame mill delivery oil remained in vanaspati units buying and gained another Rs 50 at Rs 5,350 a quintal.


Coconut (per tin) traded higher at Rs 850-860.


Crude palm oil (ex-kandla) and palmoline (rbd) oils also strengthened further to Rs 4,450 and Rs 5,200 from previous levels of Rs 4,350 and Rs 5,100 a quintal respectively on higher outside advices.


In the non-edible section, mahuwa and neem oils rose by Rs 50 each at Rs 4,250 and Rs 3,700-3,800 a quintal respectively on increased industrial offtake.


Following were Wednesday's quotation per quintal:


Oilseeds: mustard seemd 2100-2300 and cottonseed not available.


Vanaspati ghee (15 litres tin) 840-860.


Edible oils: Groundnut mill delivery 6,900, Groundnut Solvent refined (per tin) 1190-1200, Mustard Expeller 5,200, Mustard Pakki ghani (per tin) 835-910, Mustard kachi ghani (per tin) 880-945, Sunflower 5,050, Sesame mill delivery 5,350, Soyabean Refined mill delivery 5,200, Soyabean degum (Delhi) 5000, Crude Palm Oil (Ex-kandla) 4,450, Cottonseed mill delivery 4,900, palmoline (RBD) 5,200, Rice bran (phy) 4,350 and coconut (per tin) 850-860.


Non-edible oils: linseed 4750 Mahuwa 4250, castor 4700-4750, Neem 3700-3800, Rice bran 3700-3750 and palm fatty 3150-3200.


ECONOMICS & INDUSTRY DEVELOPMENT DIVISION
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