NEW DELHI: Select vegetable oil prices continued to rise in the wholesale oils and oilseeds market, during the week, on increased buying by vanaspati millers amid a firming trend in the overseas markets.
Marketmen said, buying support from vanaspati millers and firming global trend mainly led to a rise in select wholesale edible oil prices in the national capital.
A better trend in Malaysian palm oil and higher advices from the producing regions also supported the uptrend, they said.
Meanwhile, palm oil for July delivery rose 1.6 per cent to USD 790 a metric ton on the Malaysia Derivatives Exchange, aided by China's ban on Argentine soybean oil. China, the world's largest consumer of soya oil, suspended imports from Argentina this month, on quality concerns.
In the national capital, palmolein (rbd) and crude palm oil (ex-kandla) oils gained Rs 10 each at Rs 4,150 and Rs 3,610 per quintal on higher overseas advices.
However, soyabean refined mill delivery (Indore) and soyabean degum (Delhi) remained steady at Rs 4,450 and Rs 4,350 per quintal during the week.
Coconut oil which remained flat during the major part of week, shot up Rs 20 to Rs 960-990 per tin of 15 litres.
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