Edible oils fall on global cues

Edible oil prices fell by up to Rs 50 per quintal in the wholesale oils and oilseeds market today on fall in demand at prevailing high levels amid weakening overseas trend.

Castor oil in the non-edible section also eased on reduced offtake by industrial units and other consuming industries.

Trading sentiments turned bearish as palm-oil prices dropped to its lowest level in more than nine-months in Malaysia, the second-largest producer. Palm oil tumbled by 7.9% to $931 a tonne on the Malaysian Derivatives Exchange, a level last seen in October.  

Besides, fall in demand at prevailing higher levels mainly led to fall in edible oil prices.

In the national capital, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils fell by Rs 50 each to Rs 6,100 and Rs 5,700, respectively, while crude palm oil (ex-kandla) traded lower by the same margin to Rs 5,100 per quintal.

Palmolein (rbd) and palmolein (kandla) oils lost Rs 30 each to Rs 5,650 and Rs 5,350 per quintal, respectively. In the non-edible section, castor oil declined by Rs 30 to Rs 8,450-8,550 per quintal.

Following are today's quotations 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) 8,200, groundnut Solvent refined (per tin) 1,400-1,410, Mustard Expeller (Dadri) 5,680, Mustard Pakki ghani (per tin) 755-910, Mustard kachi ghani (per tin) 910-1,010

Sunflower 6,300, Sesame mill delivery 6,150, soybean Refined mill delivery (Indore) 6,100, Soyabean  degum (Kandla) 5,700, Crude Palm Oil (Ex-kandla) 5,100, Cottonseed mill delivery (Haryana) 5,440

Palmolein (RBD) Rs 5,650 Palmolein (Kandla) 5,350, Rice bran (phy) 3,750 and Coconut (per tin) 1,700-1,760

Non-edible oils: Linseed 4,550, Mahuwa 4,000, Castor 8,450-8,550, 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