Domestic vegetable oils taking cues from the bullish global market

Despite weak demand, most of the oils at the mandis in Indore have been trading higher on improved global cues. Soya refined quoted at 740-42 for 10 kg, while soya solvent ruled at 705-708. Similarly, palm, cotton and groundnut oils also traded higher on strong global cues with palm oil rising to 640 for 10 kg (up 10 from last week), while cotton oil (Gujarat) ruled at 675-80. Groundnut oil also traded higher at 1,000-1,010 for 10 kg. Sluggish demand in mustard oil and meal dragged mustard seeds to 4,150 a quintal, while raida ruled at 3,600. were quoted higher at 4,200-4,205 a quintal on weak availability of seeds with the crushers.