Crude palm, palmolein oils down on subdued demand, global cues

NEW DELHI: Crude palm oil and palmolein oils were under pressure and traded Rs 20 per quintal lower on the wholesale oils and oilseeds market in national capital on Tuesday on subdued demand amid weakening global trend.

Sentiment remained weak on fall in demand from stockists as well as millers, due to rising mercury and a weak trend in global markets. Meanwhile, palm oil futures for the July-delivery contract lost 1.6 per cent to $748 a metric tonne on the Malaysia Derivatives Exchange.

In the edible section, crude palm oil (ex-kandla) and palmolein (RBD) fell by Rs 20 each at Rs 3,610 and Rs 4,100 per quintal, respectively. Soyabean refined mill delivery (Indore) and soyabean degum (Delhi) oils also fell by similar margin to Rs 4,410 and Rs 4,320 per quintal, respectively.