NEW DELHI: Select edible oils, led by sesame and soyabean, rose smartly on the wholesale market in the national capital during the past week, on increased buying by vanaspati units to meet demand for the Navratra festival.
Marketmen said increased buying by vanaspati millers to meet the ongoing Navratra-festival demand mainly led to the rise in edible oil prices. They said a firming trend the Malaysian markets, which supply soyabean and palm oil in the world, further supported the upward trend.
Palm oil in Malaysia rose as investors bought commodities as better-than-expected US economic reports eased concern that the global recession will slash raw material demand, they added.
In the edible section, a constituent of vanaspati ghee sesame mill delivery gained the most by surging Rs 400 to Rs 6,000 per quintal. Soyabean refined mill delivery, also used for cooking, climbed by Rs 180 to Rs 4,700 per quintal and soyabean degum (Delhi) by Rs 200 to Rs 4,500 per quintal. Groundnut mill delivery oil rose by Rs 100 to Rs 5,200 per quintal on higher advices from Gujarat. Groundnut solvent refined traded higher by Rs 10 to Rs 940-980 per tin of 15 litres.
Palmolein (RBD) also added Rs 100 to Rs 3,950 per quintal largely on higher trend in Malaysia and crude palm oil (ex-kandla) showed some weakness and lost Rs 30 to Rs 3,120 per quintal.
Mustard expeller oil, after a long bearish phase, found fresh buying support from retailers and traded marginally higher by Rs 10 to Rs 4,360 per quintal.
However, mustard pakki and kachi ghani oils traded lower by Rs 5 each at Rs 630-785 and Rs 785-870 per tin of 15 litres, respectively.
In the non-edible section, castor oil gained Rs 50 to Rs 6,300-6,400 per quintal on increased industrial offtake. Neem oil also jumped by Rs 100 to Rs 4,100-4,200 per quintal on fresh enquiries from soap manufacturers.
However, linseed, mahuwa, rice bran and palm fatty oils in this section, held steady at Rs 4,350, Rs 4,200, 3,700-3,800 and Rs 3,125-3,200 per quintal, respectively, in restricted trading activity.