Palmoline, soyabean slide on weak global cues

NEW DELHI: Prices of palmolein and soyabean oil fell by Rs 100 per quintal on the wholesale oils and oilseeds market today largely on weak global trend.

However, non-edible oils held steady in restricted deals. Traders attributed the fall in palmolein and soyabean oils to weak global trend on speculation that inventories in top growers Indonesia and Malaysia may reach records as production increases.

Meanwhile, palm oil for the contract for delivery in October dropped 0.7 per cent to 673 dollar a metric tonne on the Malaysia Derivatives.

In the national capital, palmolein (rbd) and palmolein Kandla) oils fell by Rs 100 each to Rs 5,500 and Rs 5,100 per quintal, respectively.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils also moved down by the same margin to Rs 6,900 and Rs 6,600 per quintal, respectively.

The following were today's quotations per quintal: Oilseeds: Mustardseed 2,950-3,050 and Groundnut Seed 2,150-2,900.

Vanaspati Ghee (15-litre tin) 1,100-1,250. Edible oils: Groundnut Mill Delivery (Gujarat) 9,500, Groundnut Solvent Refined (per tin) 1,990-2,040, Mustard expeller (Dadri) 6,700, Mustard Pakki Ghani (per tin) 1,250-1,330, Mustard Kachi Ghani (per tin) 1,335-1,435, Sunflower 6,300, Sesame Mill Delivery 10,300, Soybean Refined Mill Delivery (Indore) 6,900, Soyabean Degum (Kandla) 6,600, Crude Palm Oil (Ex-Kandla) 4,900, Cottonseed Mill Delivery (Haryana) 6,200, Palmolein (RBD) Rs 5,500, Palmolein (Kandla) 5,100, Rice Bran (phy) 3,800 and Coconut (per tin)1,300-1,350.

Non-edible oils: Linseed 6,400, Mahuwa 4,000, Castor 9,150-9,250, Neem 5,050-5,150, Rice Bran 3,200-3,300 and Palm Fatty 3,225-3,300.

Oilcakes: Groundnut Dehusk 800-850, Sesame 950-1,150, Mustard (New) 1,000-1,025, Mustard 1,200-1,210 and Cottonseed 1,075-1,175.