Palmoline, groundnut oils down upto Rs 100
Wholesale prices of Palmoline and groundnut mill delivery oils during this week fell upto Rs 100 a quintal in the national capital on increased supply.
By PTI |
NEW DELHI: Wholesale prices of Palmoline and groundnut mill delivery oils during this week fell upto Rs 100 a quintal in the national capital on increased supply after the government imported sizeable edible oils to put a brake on the rising prices.
Markets remained closed on Friday following a 'bandh' call by the Delhi Traders Association to protest the ongoing sealing, rent-act and rising commodity prices.
Palmoline (RBD) oil, being flat at Rs 5,550 a quintal for the better part of the week, reacted at the fag-end of the week to close Rs 100 down at Rs 5,450 a quintal.
State-run companies have so far imported one lakh tonnes of edible oils.
"Fears of increased supply in view of sizeable import of the edible oils by the government, mainly helped prices to decline," said a wholesale edible oil trader.
Groundnut mill delivery oil which rose to Rs 6,900 a quintal at the outset, met with stockists selling and slipped back to close at Rs 6,850 per quintal showing a fall of Rs 30.
Sesame mill delivery oil remained lower in line with general trend and prices were down by Rs 100 at Rs 7,000 a quintal.
Soyabean refined mill delivery and soyabean degum (Delhi) oil prices were down by Rs 50 each at Rs 5,850 and Rs 5,700 a quintal respectively.
Crude Palm Oil (Ex-kandla) oil closed the week Rs 10 down at Rs 4,550 a quintal but rice bran (physical) oil prices were up by Rs 150 at Rs 4,500 a quintal.
In the non-edible section, castor oil rose Rs 200 at Rs 5,700 and Rs 6,200 a quintal on the back of demand from consuming industries.
Markets remained closed on Friday following a 'bandh' call by the Delhi Traders Association to protest the ongoing sealing, rent-act and rising commodity prices.
Palmoline (RBD) oil, being flat at Rs 5,550 a quintal for the better part of the week, reacted at the fag-end of the week to close Rs 100 down at Rs 5,450 a quintal.
State-run companies have so far imported one lakh tonnes of edible oils.
"Fears of increased supply in view of sizeable import of the edible oils by the government, mainly helped prices to decline," said a wholesale edible oil trader.
Groundnut mill delivery oil which rose to Rs 6,900 a quintal at the outset, met with stockists selling and slipped back to close at Rs 6,850 per quintal showing a fall of Rs 30.
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Sesame mill delivery oil remained lower in line with general trend and prices were down by Rs 100 at Rs 7,000 a quintal.
Soyabean refined mill delivery and soyabean degum (Delhi) oil prices were down by Rs 50 each at Rs 5,850 and Rs 5,700 a quintal respectively.
Crude Palm Oil (Ex-kandla) oil closed the week Rs 10 down at Rs 4,550 a quintal but rice bran (physical) oil prices were up by Rs 150 at Rs 4,500 a quintal.
In the non-edible section, castor oil rose Rs 200 at Rs 5,700 and Rs 6,200 a quintal on the back of demand from consuming industries.
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