Soybean | Soybean Oils Up on Mills Buying | Soybean Market (Jan 29, 2018)

Prices of palmolein and Soybean oil firmed up by up to Rs 100 per quintal at the wholesale oils and oilseeds market today on increased buying by vanaspati millers amid a firm trend overseas.
Castor oil in the non-edible section, also finished higher on pick-up in demand from consuming industries.
Marketmen said increased buying by vanaspati millers and a firm trend overseas, mainly led to rise in palmolein and Soybean oil prices.
Globally, the benchmark palm oil contract for April delivery rose 1.1 per cent to 2,521 ringgit (USD 644.59) a tonne on the Bursa Malaysia Derivatives Exchange.
Soybean refined mill deliery (Indore) and Soybean degum (Kandla) oils also went up by Rs 100 each to Rs 7,600 and Rs 7,200 per quintal respectively.

In the non-edible section, castor oil moved up by Rs 100 to Rs 8,000-8,100 per quintal.
Following are 25th January's quotations (in Rs per quintal): Oilseeds: Mustard seed Rs 2,950-3,050 and Groundnut seed Rs 2,150-2,900. Vanaspati Ghee (15-litre tin) Rs 800-1,000.

Edible oils: Groundnut Mill Delivery (Gujarat) Rs 9,200, Groundnut Solvent Refined (per tin) Rs 1,675-1,775, Mustard expeller (Dadri) Rs 7,900, Mustard Pakki Ghani (per tin) Rs 1,300-1,345, Mustard Kachi Ghani (per tin) Rs 1,350-1,450, Sesame Mill delivery Rs 8,700, Soybean Refined Mill Delivery (Indore) Rs 7,600, Soybean Degum (Kandla) Rs 7,200, Crude Palm Oil (Ex-Kandla) Rs 5,200, Cottonseed Mill Delivery (Haryana) Rs 6,800, Palmolein (RBD) Rs 6,200, Palmolein (Kandla) Rs 6,250 and Coconut (per tin) Rs 3,000-3,050.

Non-edible oils: Linseed Rs 9,000, Castor Rs 8,000-8,100, Neem Rs 5,350-5,450.

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