Edible oils remain weak on subdued demand

Select edible oil prices lost Rs 10 per quintal in the wholesale oils and oilseeds market today on subdued demand at existing higher levels amid weakening trend in global markets. However, castor oil in the non-edible section, showed some strength on increased industrial offtake.

Marketmen said subdued demand at existing higher levels and reports of a weakening trend in global markets mainly led to a fall in select wholesale edible oil prices.

Meanwhile, palm oil futures for October delivery declined by 0.6 per cent to $756 a metric tonne on the Malaysia Derivatives Exchange. In the national capital, palmolein (rbd) and crude palm oil (ex-kandla) oils remained weak and prices lost another Rs 10 each to Rs 4,370 and Rs 3,720 per quintal.

Soyabean refined mill delivery (Indore) and soyabean degum (Delhi) oils also traded lower by the similar margion at Rs 4,610 and Rs 4,410 per quintal. In the non-edible section, castor oil gained Rs 100 to Rs 7,450-7,550 per quintal.

Following are today's quotations in Rs per quintal:

Oilseeds: Mustard seed 2,500-2,600 and groundnut seed 2,100-2,850
Vanaspati ghee (15 litres tin) 720-830

Edible oils: Groundnut mill delivery (Gujarat) 8,000, groundnut Solvent refined (per tin) 1,350-1,360, Mustard Expeller (Dadri) 5,050, Mustard Pakki ghani (per tin) 690-845, Mustard kachi ghani (per tin) 845-945, Sunflower 6,300

Sesame mill delivery 5,850, soybean Refined mill delivery (Indore) 4,610 Soyabean degum (Delhi) 4,410, Crude Palm Oil (Ex-kandla) 3,720, Cottonseed mill delivery (Haryana) 4,400, Palmolein (RBD) 4,370, Rice bran (phy) 3,750 and Coconut (per tin) 1,030-1,060

Non-edible oils: Linseed 4,000, Mahuwa 4,000, Castor 7,450-7,550, Neem 3,700-3,800, 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) 1,025-1,050, Mustard 1,200-1,210 and Cottonseed 1,075-1,175