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MARKET DEVELOPMENT
Select edible oil prices strengthen in mixed trade
calendar07-01-2010 | linkPress Trust of India | Share This Post:

05/01/2010 (Press Trust of India), New Delhi -  In a mixed pattern of trading, groundnut and crude palm oil prices strengthened up to Rs 100 per quintal at the oils and oilseeds market in the national capital today on increased buying by vanaspati mills to meet the marriage season demand amid firming global trend.

However, a few edible oils lacked necessary follow up support at existing higher levels and their prices declined as a result.

Marketmen said increased buying by vanaspati millers to meet the marriage season demand amid firming global trend helped select wholesale edible oil prices to strengthen.

Meanwhile, palm oil for March delivery advanced 0.8 per cent to USD 797 a metric tonne on the Malaysia Derivatives Exchange.

In edible section, groundnut mill delivery (Gujarat) rose by Rs 100, or 1.47 per cent, to Rs 6,900 per quintal, while groundnut solvent refined gained Rs 10 at Rs 1,160-1,170 per tin.