Edible oil down on sluggish demand, global cues

Select edible oil prices fell marginally by Rs 20 per quintal in the wholesale oils and oilseeds market today due to sluggish demand at prevailing higher levels amid a weakening global trend.

Sentiments dampened as palm oil prices fell in global markets tracking decline in crude oil after the International Energy Agency said prices above $100 a barrel are starting to hurt the global economy, eroding the demand for food and crop-based fuel.

Meanwhile, palm oil for delivery in June lost 2.1 per cent to $1,089 per metric tonne, the lowest level since March 31 on the Malaysian Derivatives Exchange.

In the national capital, delivery of soyabean refined mill (Indore) and soyabean degum (Kandla) oils fell by Rs 20 each to Rs 5,800 and Rs 5,730, respectively.

Crude palm oil (ex-kandla) traded lower by the same margin to Rs 5,110 per quintal. Palmolein (rbd) and palmolein (Kandla) oils too shed Rs 20 each to Rs 5,700 and Rs 5,410 per quintal, respectively.  

Following are today's quotations in Rs per quintal:

Oilseeds: mustard seed 2,525-2,655 and groundnut seed 2,100-2,850
Vanaspati ghee (15 litres tin) 1,065-1,140

Edible oils: Groundnut mill delivery (Gujarat) 7,650, groundnut Solvent refined (per tin) 1,300-1,310, Mustard Expeller (Dadri) 5,550, Mustard Pakki ghani (per tin) 770-925, Mustard kachi ghani (per tin) 925-1,025, Sunflower 6,300

Sesame mill delivery 6,230, soybean Refined mill delivery (Indore) 5,800, Soyabean degum (Kandla) 5,730, Crude Palm Oil (Ex-kandla) 5,110, Cottonseed mill delivery (Haryana) 5,550, Palmolein (RBD) Rs 5,700 Palmolein (Kandla) 5,410, Rice bran (phy) 3,750 and Coconut (per tin) 1,600-1,660

Non-edible oils: Linseed 4,650, Mahuwa 4,000, Castor 8,600-8,700, Neem 4,050-4,150, Rice bran 3,300-3,400 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