Groundnut, mustard oils end higher in mixed trend

NEW DELHI: In a mixed pattern of trading, mustard and groundnut oil prices firmed up at the wholesale oils and oilseeds market during the week on selective buying by retailers against tight supplies from producing belts.

However, non-edible oils moved in a tight range during the period in the absence of worthwhile activity and settled around previous levels.

Traders said selective buying by retailers amid restricted arrivals from producing belts mainly led to the rise in groundnut and mustard oil prices.

They said, however, adequate stocks position against lack of buying support kept other edible oil prices lower.

In the national capital, mustard expeller (Dadri) oil remained in better shape and advanced by Rs 200 to Rs 7,450 per quintal on increased offtake by millers and reports of holding back of stocks by speculators. Mustard pakki and kachi ghani oils held steady at Rs 1,220-1,270 and Rs 1,270-1,370 per tin respectively on some support.

Groundnut mill delivery (Gujarat) also found some buying support and shot up by Rs 150 to Rs 8,000 per quintal.

On the other hand, sesame mill delivery and cottonseed mill delivery (Haryana) oils met with resistance and ended lower by Rs 200 each to Rs 7,800 and Rs 5,650 per quintal respectively. Coconut oil after moving in a narrow range in scattered deals, settled flat at Rs 2,450-2,475 per tin.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils fell by Rs 100 each to Rs 6,300 and Rs 6,000 and crude palm oil (ex-kandla) declined by Rs 200 to Rs 4,100 per quintal on weak global cues.

Palmolein (rbd) and palmolein (Kandla) oils also shed Rs 50 each at Rs 5,600 and Rs 5,400 per quintal, respectively.

In the non-edible section, linseed and castor oils moved in a tight range on lack of worthwhile activity, settling around previous week's levels of Rs 8,150 and Rs 9,600-9,700 per quintal, respectively.