Mustard oil declines on subdued local buying

NEW DELHI: Mustard oil turned weak and prices fell by Rs 50 per quintal at the wholesale oils and oilseeds market today due to sluggish demand by local parties.

However, other edible and non-edible oils continued to move in a narrow range in limited deals and settled around previous levels.

Traders said subdued demand from local parties against adequate stocks position mainly kept pressure on mustard oil prices.

In the national capital, mustard expeller (Dadri) oil declined by Rs 50 to Rs 7,200 per quintal.