Edible oils remain weak on global cues

Select edible oils prices continued to decline for the second consecutive day, losing up to Rs 20 per quintal on the wholesale oils and oilseeds market on sustained selling by stockists in line with a weakening trend in Malaysia.

Also, linseed oil in the non-edible section eased on reduced offtake by paint industries.

Trade sentiment remained weak after palm oil dropped to a week's low in Malaysia on speculation that rising soybean oil supplies from Argentina and Brazil may cool demand for the vegetable oil.

Meanwhile, palm oil futures for the May delivery contract shed 0.8 per cent to $1,173 a metric tonne on the Malaysian Derivatives Exchange. In the national capital, mustard expeller oil declined by Rs 20 to Rs 5,980 per quintal.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils fell by Rs 20 each to Rs 6,280 and Rs 5,900, respectively. Likewise, crude palm oil (ex-kandla) traded lower by Rs 20 to Rs 5,400 per quintal. 

Palmolein (rbd) and palmolein (Kandla) oils too shed Rs 20 each to Rs 5,950 and Rs 5,750 per quintal, respectively.  

In the non-edible section, linseed oil declined by Rs 50 to Rs 4,600 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) 7,400, groundnut Solvent refined (per tin) 1,300-1,310, Mustard Expeller (Dadri) 5,980, Mustard Pakki ghani (per tin) 775-930, Mustard kachi ghani (per tin) 930-1,030

Sunflower 6,300, Sesame mill delivery 6,400, soybean Refined mill delivery (Indore) 6,280, Soyabean degum (Kandla) 5,900, Crude Palm Oil (Ex-kandla) 5,400, Cottonseed mill delivery (Haryana) 5,750

Palmolein (RBD)Rs 5,950 Palmolein (Kandla) 5,750, Rice bran (phy) 3,750 and Coconut (per tin) 1,500-1,560

Non-edible oils: Linseed 4,600, Mahuwa 4,000, Castor 8,700-8,800, Neem 4,100-4,200, 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