Olive Oil Exhibition,Edible Oil Exhibition,IOE China,Olive Oil Competition,China Olive Oil,China Olive Oil Fair,Olive Oil tradeshow,Edible Oil tradeshow,Biggest,olive oil expo,olive oil expo China
I'm going to exhibitors
Visitor registration
Show data download
Now site:Home > Industry News
Select edible oils rise on millers buying, global cues
NEW DELHI: Select edible oil prices firmed up at the wholesale oils and oilseeds market during the first week of the New Year on the back of increased buying by vanaspati millers and retailers, triggered by rising demand.

Besides, a firming trend global markets also influenced the sentiments.

A few oils, in the non-edible section, also showed some strength on increased offtake by consuming industries.

According to marketmen, increased buying by vanaspati millers and retailers to meet seasonal demand and a firming global trend due to floods that hurt palm oil production across Malaysia mainly influenced the sentiment here.

Meanwhile, palm oil for March delivery remained firm and extended gains by 1.5 per cent to $650 a metric tonne this week on Bursa Malaysia Derivatives.

In the national capital, Groundnut mill delivery (Gujarat) oils remained in demand and added Rs 100 to Rs 8,250 per quintal. Cottonseed mill delivery (Haryana) which remained steady for the major part of week, ended higher by Rs 50 to Rs 5,700 per quintal.

Taking positive cues from global markets, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils advanced by Rs 100 each to Rs 6,750 and Rs 6,450 while crude palm oil (ex-kandla) edged up by Rs 50 to Rs 4,200 per quintal, respectively.

Palmolein (rbd) and palmolein (Kandla) oils followed suit and improved by Rs 100 each to Rs 5,900 and Rs 5,700 per quintal, respectively.

On the the other hand, mustard expeller (Dadri) oil met with some resistance and shed Rs 50 at Rs 7,850 per quintal. Mustard pakki and kachi ghani oils held steady at Rs 1,250-1,300 and Rs 1,300-1,400 per tin, respectively.

Sesame mill delivery oil moved in a narrow range in limited deals and settled at last level of Rs 7,800 per quintal.

In the non-edible section, castor oil traded higher by Rs 50 to Rs 9,700-9,800 per quintal on increased industrial offtake.

Linseed oil also went up by Rs 150 to Rs 8,300 per quintal on increased demand from paint industries.

Grains: In a mixed pattern of trading, prices of wheat and rice basmati drifted at wholesale grains market during the first trading week of 2015.

However, few bold grains moved up on increased offtake by consuming industries.

Traders said adequate stocks position due to increased supplies from producing belts against reduced offtake by flour mills and stockists mainly kept pressure on wheat and rice basmati prices.

In the national capital, wheat dara (for mills) fell by Rs 25 to Rs 1,670-1,675 per quintal. Atta chakki delivery followed suit and ended lower by a similar margin to Rs 1,675-1,680 per 90 kg per bag.

Atta flour mills, maida and sooji also eased to close at Rs 880-890, Rs 935-945 and Rs 980-1000 from last close of Rs 890-900, Rs 960-965 and Rs 1,000-1,010 per 50 kg respectively.

In the rice section, basmati common and Pusa-1121 variety declined to Rs 5,300-5,800 and Rs 4,600-5,700 as compared to previous levels of Rs 5,400-6,000 and Rs 4,750-5,800 per quintal respectively.

On the other hand, bold grains like bajra and maize strengthened to Rs 1,220-1,225 and Rs 1,420-1,425 against last close of Rs 1,170-1,175 and Rs 1,360-1,365 per quintal respectively.

Jowar yellow and white also moved up to Rs 1,470-1,500 and Rs 2,500-2,600 from previous week's close of Rs 1,400-1,425 and Rs 2,400-2,525 per quintal respectively.