Select edible oils decline on weak global cues

NEW DELHI: Select edible oil prices fell by Rs 50 per quintal on the wholesale oils and oilseeds market today owing to subdued demand amid a weak global trend.


Linseed oil in the non-edible section, also eased on reduced industrial offtake.

Traders said subdued demand against adequate stocks position amid a weak global trend mainly kept pressure on select edible oil prices.

Meanwhile, palm oil dropped 1.2 per cent to USD 797 a tonne on the Malaysia Derivatives Exchange.

Reduced industrial offtake helped linseed oil to surrendered fresh ground, they said.

In the national capital, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils declined by Rs 50 each to Rs 7,000 and Rs 6550, while crude palm oil (ex-kandla) traded lower by the same margin to Rs 6800 per quintal respectively on lower global trend.

Palmolein (rbd) and Palmolein (Kandla) oils followed suit and shed Rs 50 each at Rs 7050 and Rs 6550 per quintal respectively.

In the non-edible section, linseed oil declined by Rs 50 to Rs 6500 per quintal.