Groundnut, mustard oils rise on pick up in demand

In a holiday-shortened week, prices of groundnut and mustard expeller oils ended higher at the wholesale oil and oilseeds market due to pick up in demand from retailers in view of festive season against restricted supplies from producing regions.

Castor oil in the non-edible section also finished higher on increased offtake by industries.

Markets remained closed on Thursday, Friday and Saturday on account of 'Diwali', 'Vishwakarma Puja' and 'Bhai Dooj', respectively.

Traders said besides rising demand from retailers, driven by ongoing festive season, tight stocks on fall in arrivals from producing belts mainly led to firmness in groundnut and mustard oil prices.

In the national capital, groundnut mill delivery (Gujarat) oil remained in demand and spurted by Rs 300 to Rs 9,100 per quintal, while groundnut solvent refined held steady at Rs 1,650-1,750 per tin on some support.

Mustard expeller (Dadri) oil also edged up by Rs 50 to Rs 8,050 per quintal.

On the other hand, palmolein (rbd) and palmolein (Kandla) oils moved in a narrow range in scattered deals and pegged at last levels of Rs 6,000 and Rs 6,050 per quintal respectively.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils followed suit and ended flat at previous levels of Rs 7,000 and Rs 6,600 per quintal respectively.

In the non-edible section, castor oil in the non-edible section, went up by Rs 100 to Rs 9,100-9,200 per quintal.

(MORE)

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)