Palmolein, soyabean oils remain weak on sluggish demand

NEW DELHI: Prices of palmolein and soyabean fell further by Rs 50 per quintal at the wholesale oils and oilseeds market today owing to sluggish demand amid a weak global trend.

However, linseed oil in the non-edible section, rose on fresh enquiries from paint and other consuming industries.

Traders said besides sluggish demand, a weak global trend mainly led to decline in palmolein and soyabean oil prices.

Meanwhile, palm oil for January delivery fell 0.2 per cent to $800 a metric tonne on the Malaysia Derivatives Exchange.

In the national capital, palmolein (rbd) and palmolein (Kandla) oils remained weak and shed another Rs 50 each to Rs 6,400 and Rs 6,000 per quintal, respectively.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils declined by similar margin to Rs 7,300 and Rs 7,000 per quintal, respectively.

On the other hand, linseed oil in the non-edible section, found fresh buying support from paint industries and rose by Rs 50 to Rs 6,850 per quintal.