Edible oils down on sluggish demand, global cues

Edible oils prices dropped up to Rs 400 per quintal on the wholesale oils and oilseeds market today on sluggish demand amid weakening trend in global markets.

However, groundnut mill delivery (Gujarat) oil found scattered buying and improved.

Trading sentiment turned bearish after palm oil slumped to the lowest level in four months in global markets on speculation that demand is weakening, amid high prices.

Meanwhile, palm oil futures for June delivery contract fell 4.3 per cent to $1,044 a tonne on the Malaysian Derivatives Exchange, the lowest price since November 24.

Besides, sluggish demand at prevailing levels, too, dampened trading sentiments. 

In the national capital, mustard expeller oil (Dadri) dropped by Rs 350 to Rs 5,500 per quintal. Mustard pakki and kachi ghani oils traded lower by Rs 10 each to Rs 760-915 and Rs 915-1015 per tin.    

Cottonseed mill delivery (Haryana) oil lost Rs 150 to Rs 5,500 per quintal.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils dropped by Rs 400 and Rs 140 to Rs 5,740 and Rs 5,700 per quintal, respectively.

Crude palm oil (ex-kandla) fell by Rs 160 to Rs 5,050, while palmolein (rbd) and Palmolein (Kandla) declined by Rs 190 each to Rs 5,600 and Rs 5,300 per quintal, respectively.

On the other hand, groundnut (Gujarat) oil found scattered buying and moved up by Rs 100 to Rs 7,650 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) 5,500, Mustard Pakki ghani (per tin) 760-915, Mustard kachi ghani (per tin) 915-1,015

Sunflower 6,300, Sesame mill delivery 6,250,soybean Refined mill delivery (Indore) 5,740, Soyabean degum (Kandla) 5,700, Crude Palm Oil (Ex-kandla) 5,050

Cottonseed mill delivery (Haryana) 5,500, Palmolein (RBD) Rs 5,600 Palmolein (Kandla) 5,300, Rice bran (phy) 3,750 and Coconut (per tin) 1,600-1,660

Non-edible oils: Linseed 4,600, Mahuwa 4,000, Castor 8,650-8,750, 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