Edible oils remain weak on sluggish demand

Prices of select edible oils fell further up to Rs 70 per quintal on the oils and oilseeds market today on on subdued demand amid weakening global trend.

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

Traders said apart from subdued demand, sustained selling by stockists and reports of weakening trend in overseas market, mainly led to fall in wholesale edible oil prices.

In the national capital, mustard expeller oil (Dadri) fell by Rs 70 to Rs 5,680 per quintal. Sesame and cottonseed mill delivery (Haryana) oils declined by Rs 50 and Rs 30 to Rs 6,150 and Rs 5,440 per quintal respectively.

Taking cues from overseas markets, soyabean refined mill delivery (Indore) and soyabean degum (kandla) oils lost Rs 50 each to Rs 6,150 and Rs 5,750, while crude palm oil (ex-kandla) oil traded lower by the same margin to Rs 5,150 per quintal respectively.

Palmolein (rbd) and palmolein (kandla) oils moved down by Rs 50 each to Rs 5,650 and Rs 5,350 per quintal respectively.

In the non-edible section, neem oil declined by Rs 50 to Rs 4,050-4,150 per quintal.