Select edible oils slide on muted demand

New Delhi: The wholesale oils and oilseeds market displayed a weak trend during the week as prices of select edible declined owing to slackened demand from vanaspati millers and retailers against adequate stocks.

Castor oil in the non-edible section, also moved down on reduced offtake by industrial units.

Traders said besides easing demand from vanaspati millers and retailers at prevailing levels, ample stocks on higher supplies from producing regions, mainly kept pressure on select edible oil prices.

In the national capital, groundnut mill delivery (Gujarat) oil softened by Rs 50 to Rs 9,100 per quintal, while groundnut solvent refined traded lower at Rs 1,700-1,750 from previous level of Rs 1,730-1,780 per tin.

Cottonseed mill delivery (Haryana)and mustard expeller (Dadri) oils eased by Rs 50 each to Rs 5,850 and Rs 9,000 per quintal respectively. Mustard pakki and kachi ghani oils enquired at previous week's levels of Rs 1,550-1,600 and Rs 1,600-1,700 per tin respectively on some buying support.

Coconut oil which remained steady for the major part of week on scattered support, at the fag-end met with resistance and eased by Rs 50 to close at Rs 1,900-1,950 per tin.

In the non-edible section, castor oil traded lower by Rs 50 to Rs 9,700-9,800 per quintal on subdued demand from consuming industries.