Edible oils fell further on sustained selling

Edible oils continued to slide for the fourth straight day and fell up to Rs 50 per quintal on the wholesale oils and oilseeds market today on sustained selling by stockists against sluggish demand.

A few oils in the non-edible section, also showed weakness on reduced industrial demand.

Traders said increased selling by stockists on subdued demand amid weakening global trend mainly led to fall in the wholesale edible oil prices.

Reports of better soyabean production estimates in the current Kharif season following adequate monsoon rains also influenced the trading sentiment, they said.

Meanwhile, palm oil prices fell 0.8 per cent to $878 a metric tonne on the Malaysia Derivatives Exchange.

In the national capital, soyabean refined mill delivery (Indore) and soyabean degum (Delhi) fell further by Rs 10 and Rs 50 to Rs 4830 and Rs 4600 per quintal.

Palmolein (rbd) and crude palm oil (ex-kandla)also lost Rs 20 and Rs 30 to Rs 4880 and Rs 4120 per quintal.

In line with a general weak trend, cotton seed mill delivery (Haryana) oil declined by Rs 50 to Rs 4550 per quintal.

In the non-edible section, castor and neem oils also traded lower by Rs 50 each to Rs 8550-8650 and Rs 3750-3850 per quintal.

In oilseeds section, mustard seed moved down by Rs 25 to Rs 2525-2655 per quintal, mustard in oilcakes section, traded lower by the same margin at Rs 1000-1025 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) 815-910

Edible oils: Groundnut mill delivery (Gujarat) 8,300, groundnut Solvent refined (per tin) 1,400-1,410, Mustard Expeller (Dadri) 5,300, Mustard Pakki ghani (per tin) 720-875, Mustard kachi ghani (per tin) 875-975

Sunflower 6,300, Sesame mill delivery 5,850, soybean Refined mill delivery (Indore) 4,830 Soyabean degum (Delhi) 4,600, Crude Palm Oil (Ex-kandla) 4,120, Cottonseed mill delivery (Haryana) 4,550, Palmolein (RBD) 4,880, Rice bran (phy) 3,750 and Coconut (per tin) 1,225-1,275

Non-edible oils: Linseed 4,100, Mahuwa 4,000, Castor 8,550-8,650, Neem 3,750-3,850, Rice bran 3,300-3,400 and palm fatty 3,225-3,300

Oilcakes: groundnut de-husk 800-850, sesame 950-1,150, Mustard (new) 1,000---1,025, Mustard 1,200-1,210 and Cottonseed 1,075-1,175