Mustard, groundnut and soybean oilseeds closed with gains, along with crude palm oil (CPO), palmolein and cottonseed oil.
West Asia Conflict Pushes Edible Oil Prices Higher in India
Domestic edible oil and oilseed prices remained firm on Tuesday amid rising geopolitical tensions in West Asia, with traders citing supply disruption fears as the key driver behind the continued rally.
Market participants say escalating friction involving Iran, Israel and the United States has heightened concerns over potential disruptions in global edible oil supply chains. The uncertainty has particularly impacted imported oils, keeping sentiment strong across the domestic market.
Global indicators also supported the uptrend. Malaysia’s exchange showed gains during afternoon trade, while the Chicago market maintained overnight strength. Traders believe that any further deterioration in the conflict situation could intensify supply worries and push prices higher.
Mustard, groundnut and soybean oilseeds closed with gains, along with crude palm oil (CPO), palmolein and cottonseed oil. Analysts noted that the market remains highly sensitive to international developments and import trends.
In the physical market, mustard seeds traded around Rs 6,525–6,550 per quintal, while soybean seeds were quoted near Rs 5,450–5,500 per quintal. Crude palm oil ex-Kandla was priced at approximately Rs 12,000 per quintal. RBD palmolein in Delhi stood near Rs 13,800 per quintal, and soybean oil mill delivery in Delhi was around Rs 14,550 per quintal.
Traders said price direction in the coming days will largely depend on geopolitical developments and global market cues.
(With inputs from PTI)
