New Delhi, Sept 20 (PTI) Edible oil prices soared up to Rs 200 per quintal on the wholesale oils and oilseeds market today on emergence of buying by vanaspati millers and retailers to meet the ensuing marriage season demand amid firm global cues. A few oils in the non-edible section, also showed some strength on increased offtake by consuming industries. Sentiment strengthened after palm oil gained in global markets on speculation that exports from Malaysia, the second-biggest producer, may rebound as worsening US soybean crop conditions threaten to reduce global vegetable oil supplies. Meanwhile, palm oil for the December-delivery contract climbed 0.5 per cent to USD 974 a metric tonne on the Malaysia Derivatives Exchange. In the national capital, groundnut mill delivery oil (Gujarat) rose by Rs 200 to Rs 9,300 per quintal, while groundnut solvent refined gained Rs 25 to Rs 1,625-1,635 per tin. Mustard expeller oil (Dadri) moved up by Rs 200 to Rs 6,450 per quintal. Its pakki and kachi ghani oils traded higher by Rs 20 each to Rs 870-1025 and Rs 1,025-1,130 per tin. Sesame and cottonseed mill delivery (Haryana) oils hardened by Rs 200 each to Rs 6,450 and Rs 6,050 per quintal, respectively. Taking positive cues from overseas markets, soyabean refined mill delivery (Indore) and soyabean degum (kandla) oils moved up by Rs 200 each to Rs 6,900 and Rs 6,400, while crude palm oil (ex-kandla) traded higher by the same margin to Rs 5,760 per quintal, respectively. Palmolein (rbd) and palmolein (Kandla) oils followed suit and edged up by Rs 200 each to Rs 6,500 and Rs 6,200 per quintal, respectively. In the non-edible section, castor and neem oil rose by Rs 50 each to Rs 8,350-8,450 and Rs 4,050-4,150 per quintal, respectively on increased offtake from consuming industries.

Source