07/11/2011 (MSN) - Edible oils extended gains for the fourth week in a row on the wholesale oils and oilseeds market, mostly on the back of continued buying by millers as well as retail investors amid firming trend in global markets.

On the other side, non-edible oils remained steady throughout the week on scattered deals.

Market leaders said sentiments continued to remain bullish as palm oil prices rose in overseas markets on speculation that the rainy season in Indonesia and Malaysia, the largest producers, may reduce output.

Meanwhile, palm oil for the January-delivery strengthened to 3,008 ringgit (USD 962) a tonne on the Malaysian Derivatives Exchange.

Besides, strong demand from local parties to meet the ongoing marriage season demand also supported the upside in wholesale edible oil prices.

In the national capital, mustard expeller oil (Dadri) shot up by Rs 300 to Rs 6,650 per quintal on the back of increased offtake by stocksits and local parties amid tight arrivals.

Mustard pakki and kachi ghani oils followed suit and strengthened to Rs 900-1,055 and Rs 1,055-1,155 per tin of 15 kg respectively.

Sesame and cottonseed mill delivery (Haryana) oils in line with overall firming trends traded higher at Rs 6,580 and Rs 6,180 per quintal, respectively, as against the previous week''s close of Rs 6,300 and Rs 5,900 per quintal, respectively.

Tracking a firming trend overseas, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils were up by Rs 50 each to Rs 6,800 and Rs 6,250, while crude palm oil (ex-kandla) shot up by Rs 200 to Rs 6,050 per quintal.

Palmolein (Kandla) oil strengthened by Rs 80 to 6,180 per quintal.

In non-edible section, linseed, castor and neem oils settled flat at Rs 4,600, Rs 8,350-8,450 and Rs 3,900-4,000 per quintal, respectively, after moving in a tight range in the absence of worthwhile activity. .