Edible oils decline on global cues

Select edible oil prices fell by Rs 20 per quintal on the wholesale oils and oilseeds market today, due to subdued demand at prevailing high levels amid a weakening global trend. 

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

Sentiments turned bearish after palm oil dropped in global markets on speculation that demand may decline should Japan's nuclear crisis worsen, potentially hurting the global economy and commodity sales.

Meanwhile, palm oil futures for the most-active June delivery fell 2 per cent to $1,079 per tonne on the Malaysian Derivatives Exchange.

In the national capital, mustard expeller oil (Dadri) declined by Rs 20 to Rs 5,480 per quintal.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) lost Rs 20 each to Rs 5,720 and Rs 5,680, palmolein (rbd) and palmolein (kandla) oils traded lower by the same margin to Rs 5,610 and Rs 5,310 per quintal.

Crude palm oil (ex-kandla) too weakened by Rs 20 to Rs 5,050 per quintal. In the non-edible section, castor oil declined by Rs 50 to Rs 8,600-8,700 per quintal.

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) 5,480, Mustard Pakki ghani (per tin) 760-915, Mustard kachi ghani (per tin) 915-1,015

Sunflower 6,300, Sesame mill delivery 6,230, soybean Refined mill delivery (Indore) 5,720, Soyabean degum (Kandla) 5,680, Crude Palm Oil (Ex-kandla) 5,050, Cottonseed mill delivery (Haryana) 5,500

Palmolein (RBD) Rs 5,610 Palmolein (Kandla) 5,310, Rice bran (phy) 3,750 and Coconut (per tin) 1,600-1,660

Non-edible oils: Linseed 4,600, Mahuwa 4,000, Castor 8,600-8,700, Neem 4,000-4,100, 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