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Select edible oils firm up on sustained buying by millers

Among edibles, linseed and castor oil also registered gains on the back of pickup in demand from consuming industries.

PTI|
Updated: Oct 10, 2015, 02.46 PM IST
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Among edibles, linseed and castor oil also registered gains on the back of pickup in demand from consuming industries.
Among edibles, linseed and castor oil also registered gains on the back of pickup in demand from consuming industries.
NEW DELHI: An upward trend in edible oils continued for yet another week at the wholesale oils and oilseeds market on the back of increased offtake by millers as well as retailers, driven by festive and wedding season, and registered further gains.

Among edibles, linseed and castor oil also registered gains on the back of pickup in demand from consuming industries.

Marketmen attributed persistent rise in edible oil prices to steady buying activity triggered by festive season and a firming trend overseas.

Traders said persistent buying by vanaspati millers and retailers, driven by festive and wedding season demand amid tight supplies from producing belts, mainly kept select edible oil prices higher.

In the national capital, mustard expeller (Dadri) oil firmed up by Rs 60 to Rs 7,960 per quintal on the back of pickup in demand from retailers. Mustard pakki and kachi oils too inched higher to Rs 1,345-1,395 and Rs 1,385-1,485 per tin of 15 kgs from Rs 1,325-1,375 and Rs 1,375-1,475, respectively.

Soyabean refined mill delivery (Indore) and Soyabean degum (kandla) in step with general trend advanced by Rs 70 each to Rs 6,670 and Rs 6,370 per quintal, respectively.

Palmolein (RBD) and palmolein (Kandla) oils also traded moderately higher at Rs 5,620 and Rs 5,550 per quintal, respectively.

However, groundnut mill delivery (Gujarat) lacked necessary buying support and fell Rs 80 to Rs 9,020 per quintal.

Groundnut solvent refined also showed weakness and shed Rs 20 at Rs 1,680-1,730 per tin.

In the non-edible segment, linseed and castor oils supported by seasonal demand ended higher at Rs 8,600 and Rs 9,890-9,990 per quintal against previous week's closing of Rs 8,550 and Rs 9,850-9,950, respectively.
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