Select edible oils remain weak on subdued demand

NEW DELHI: Select edible oils remained weak with prices falling further up to Rs 100 per quintal on the oils and oilseeds market today due to subdued demand against adequate stocks positions.

Neem oil in the non-edible section, also declined on reduced industrial offtake.

Traders said subdued demand against adequate supplies and reports of a weakening global trend mainly kept pressure on edible oil prices.

They said reduced offtake by stockists following sluggish demand from consuming industries kept pressure on neem oil prices.

In the national capital, mustard expeller (Dadri), sesame and cottonseed mill delivery (Haryana) oils traded lower by Rs 50 each to Rs 7,850, Rs 8,100 and Rs 6,350 per quintal, respectively.

Groundnut mill delivery oil (Gujarat) lost Rs 100 to Rs 11,450 per quintal.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils fell by Rs 100 each to Rs 7,700 and Rs 7,250 and crude palm oil (ex-kandla) shed Rs 50 to Rs 7,350 per quintal, respectively.

Palmolein (rbd) and palmolein (Kandla) oils followed suit and declined by Rs 100 each to Rs 7,900 and Rs 7,550 per quintal, respectively.

In the non-edible section, neem oil lost Rs 50 to Rs 4,300-4,400 per quintal.