Edible oils fall on sluggish demand, global cues

NEW DELHI: Edible oil prices fell upto Rs 200 per quintal on the wholesale oils and oilseeds market today owing to slackened demand at prevailing higher levels amid a weak global trend.


However, non-edible oils after moving in a tight range in the absence of worthwhile activity, closed steady.

Traders said slackened demand at prevailing higher levels and a weak global trend on expectations that production in Malaysia will accelerate as the high-output cycle begins, further influenced the sentiment.

Meanwhile, palm oil for the contract for October delivery declined 1.9 per cent to 676 dollar a metric tonne on the Bursa Malaysia Derivatives.

In the national capital, groundnut mill delivery (Gujarat) and sesame mill delivery oils fell by Rs 200 each to Rs 9,200 and Rs 9,900 per quintal, respectively.

Mustard expeller (Dadri) and cottonseed mill delivery (haryana) oils also declined by Rs 100 each to Rs 6,700 and Rs 6,150 per quintal respectively.

Tracking a weak global trend, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils fell by Rs 200 each to Rs 6,900 and Rs 6,600 per quintal respectively.