20/09/2012 (Indian Express) - Prices of select edible oils recovered by Rs 50 per quintal in the wholesale oils and oilseed market today on fresh buying by vanaspati millers, influenced by a firming global trend.

However, non-edible oils moved in a narrow range in limited deals and settled around previous levels.

Sentiment bolstered as palm oil gained after the steepest drop in 19 months in global markets boosted demand as countries sought to build stockpiles amid dwindling global oilseed supplies.

Meanwhile, palm oil for the December-delivery contract advanced 1 per cent to USD 942 a tonne on the Malaysia Derivatives Exchange.

In addition, fresh buying by vanaspati millers for the marriage season further fuelled the uptrend.

In the national capital, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils recovered by Rs 50 each to Rs 7,700 and Rs 7,300 quintal, respectively, on global cues.

Palmolein (rbd) and palmolein (Kandla) oils followed suit and traded higher by Rs 50 each to Rs 7,850 and Rs 7,400 per quintal respectively.

The following were today's quotations per quintal: Oilseeds: Mustardseed 2,950-3,050 and Groundnut Seed 2,150-2,900.

Vanaspati Ghee (15-litre tin) 1,100-1,250.

Edible oils: Groundnut Mill Delivery (Gujarat) 11,950, Groundnut Solvent Refined (per tin) 1,950-2,000, Mustard expeller (Dadri) 8,250, Mustard Pakki Ghani (per tin)

1,200-1,340, Mustard Kachi Ghani (per tin) 1,355-1,455, Sunflower 6,300, Sesame Mill Delivery 8,650, Soybean Refined Mill Delivery (Indore) 7,700, Soyabean Degum (Kandla) 7,300, Crude Palm Oil (Ex-Kandla) 7,400, Cottonseed Mill Delivery (Haryana) 7,200, Palmolein (RBD) Rs 7,850, Palmolein (Kandla) 7,400, Rice Bran (phy) 3,800 and Coconut(per tin) 1,400-1,450.

Non-edible oils: Linseed 5,700, Mahuwa 4,000, Castor 8,600-8,700, Neem 4,600-4,700, Rice Bran 3,280-3,380 and Palm Fatty 3,225-3,300.

Oilcakes: Groundnut Dehusk 800-850, Sesame 950-1,150, Mustard (New) 1,000-1,025, Mustard 1,200-1,210 and Cottonseed 1,075-1,175.