Edible oils fall as demand declines after Diwali

NEW DELHI: Edible oil prices fell by Rs 200 per quintal in the wholesale oils and oilseeds market today as demand declined after Diwali festival.

However, non-edible oils moved in a narrow range in scattered deals and settled around previous levels.

Traders said fall in demand after Diwali festival against adequate supplies mainly pulled down edible oil prices.

In the national capital, cottonseed mill delivery (Haryana) and groundnut mill delivery (Gujarat) oils fell by Rs 200 each to Rs 6,900 and Rs 11,750 per quintal, respectively.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils followed suit and lost Rs 200 each at Rs 7,300 and Rs 6,900, respectively. Crude palm oil (ex-kandla) traded lower by the same margin to Rs 6,900 per quintal.

In line with a general weak trend, palmolein (rbd) and palmolein (Kandla) oils enquired lower by Rs 200 each to Rs 7,400 and Rs 6,950 per quintal respectively.