Select edible oils remain weak on sluggish demand

NEW DELHI: Select edible oils remained weak and prices fell up to Rs 200 per quintal on the wholesale oils and oilseeds market today on sluggish demand amid a weak global trend.


However, non-edible oils moved in a narrow range in scattered deals and settled around previous levels.

Traders said low demand amid a weak global trend on speculation that exports from Malaysia are poised to decline, potentially boosting stockpiles from a two-year low in the world's second-largest producer, mainly kept pressure on select edible oil prices.

Meanwhile, palm oil for September delivery retreated 0.6 per cent to USD 748 a tonne on the Malaysia Derivatives.

In the national capital, groundnut mill delivery (Gujarat) and sesame mill delivery oils fell by Rs 100 and Rs 200 to Rs 9,800 and Rs 10,800 per quintal, respectively.

Tracking a weak global trend, palmolein (rbd) and palmolein (Kandla) oils declined by Rs 50 each to Rs 5,750 and Rs 5,350 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) 9,800, Groundnut Solvent Refined (per tin) 1,990-2,040, Mustard expeller (Dadri) 6,750, Mustard Pakki Ghani (per tin) 1,270-1,350, Mustard Kachi Ghani (per tin) 1,355-1,455, Sunflower 6,300, Sesame Mill Delivery 10,800, Soybean Refined Mill Delivery (Indore) 7,250, Soyabean Degum (Kandla) 6,950, Crude Palm Oil (Ex-Kandla) 5,100, Cottonseed Mill Delivery (Haryana) 6,300, Palmolein (RBD) Rs 5,750, Palmolein (Kandla) 5,350, Rice Bran (phy) 3,800 and Coconut (per tin)1,300-1,350.

Non-edible oils: Linseed 6,400, Mahuwa 4,000, Castor 9,200-9,300, Neem 5,100-5,200, 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.