Edible oils drop on subdued demand, global cues
Sentiment turned bearish on sluggish demand at prevailing higher levels against sufficient supplies and a weak trend in overseas markets.
By PTI |
NEW DELHI: Edible oil prices dropped up to Rs 200 per quintal on the wholesale oils and oilseeds market today on subdued demand against adequate supplies amid a weak global trend.
A few oils in the non-edible section, also eased on reduced industrial offtake.
Sentiment turned bearish on sluggish demand at prevailing higher levels against sufficient supplies and a weak trend in overseas markets.
Meanwhile, palm oil for the contract for delivery in June fell 1.3 per cent to $ 761 a tonne on the Malaysia Derivatives Exchange.
In the national capital, groundnut mill delivery (Gujarat) and mustard expeller (Dadri) oils fell by Rs 200 each to Rs 11,500 and Rs 6,800, while cottonseed mill delivery (Haryana oil traded lower by similar margin to Rs 6,050 per quintal, respectively.
Tracking a weak global trend, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils declined by Rs 100 each to Rs 6,900 and Rs 6,450, while crude palm oil (ex-kandla) was lower by the same margin to Rs 6,650 per quintal, respectively.
Palmolein (rbd) and palmolein (Kandla) oils too traded in negative zone with a fall of Rs 100 each to Rs 6,850 and Rs 6,350 per quintal, respectively.
In the non-edible section, linseed and neem oils declined by Rs 50 each to Rs 6,400 and Rs 4,900-5,000 per quintal, respectively.
A few oils in the non-edible section, also eased on reduced industrial offtake.
Sentiment turned bearish on sluggish demand at prevailing higher levels against sufficient supplies and a weak trend in overseas markets.
Meanwhile, palm oil for the contract for delivery in June fell 1.3 per cent to $ 761 a tonne on the Malaysia Derivatives Exchange.
In the national capital, groundnut mill delivery (Gujarat) and mustard expeller (Dadri) oils fell by Rs 200 each to Rs 11,500 and Rs 6,800, while cottonseed mill delivery (Haryana oil traded lower by similar margin to Rs 6,050 per quintal, respectively.
Tracking a weak global trend, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils declined by Rs 100 each to Rs 6,900 and Rs 6,450, while crude palm oil (ex-kandla) was lower by the same margin to Rs 6,650 per quintal, respectively.
ADVERTISEMENT
Palmolein (rbd) and palmolein (Kandla) oils too traded in negative zone with a fall of Rs 100 each to Rs 6,850 and Rs 6,350 per quintal, respectively.
In the non-edible section, linseed and neem oils declined by Rs 50 each to Rs 6,400 and Rs 4,900-5,000 per quintal, respectively.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
