Edible Oil Market Weekly Review

Advisory Bazaar Info Services

The Indian edible oil and oilseed market remained firm throughout the week, with most major edible oils and oilseeds posting gains. Except for soybean, all key commodities in the edible oil complex traded higher, supported by steady demand and positive market sentiment.

Market Highlights

Soybean

Soybean prices witnessed mild profit booking at higher levels. Kirti Plant prices declined by ₹50 per quintal to ₹7,750 per quintal.

Mustard

Strong buying interest lifted Jaipur mustard prices by ₹100 per quintal to ₹8,400 per quintal.

Mustard Oil

Supported by higher mustard seed prices, Jaipur mustard oil gained ₹20, closing at ₹1,691 per 10 kg.

Weekly Price Movement

* Soybean Oil (Kandla): Up ₹20 to ₹1,475 per 10 kg

* Palm Oil (Kandla): Up ₹25 to ₹1,470 per 10 kg

* Sunflower Oil (Kandla): Up ₹35 to ₹1,735 per 10 kg

* Rice Bran Oil (Kanpur): Up ₹40 to ₹1,470 per 10 kg

* Cotton Wash Oil (Rajkot): Up ₹55 to ₹1,595 per 10 kg, recording the strongest weekly gain among major edible oils.

Market Outlook

The overall sentiment across the edible oil complex remains positive. While soybean experienced limited profit booking after recent gains, mustard, palm oil, sunflower oil, rice bran oil, and cotton wash oil continued to trade with strength. Healthy demand and firm underlying fundamentals are expected to provide support to the oilseed market at lower levels. Unless there is a significant shift in global fundamentals, the domestic edible oil market is likely to maintain its positive bias in the coming week.