Palmolein, crude palm decline on weak global trend

Prices of palmolein and crude palm oil declined by Rs 10 per quintal in the wholesale oils and oilseeds market today on reduced offtake by mills amid a weakening global trend.

Trading sentiment turned bearish after palm oil in Malaysia, a main hub of the commodity, fell to its lowest in almost seven months.

Traders said besides, a weakening global trend, subdued demand in domestic markets further fuelled a downtrend in wholesale palmolein and crude palm oil prices here.

In the edible section, palmolein (rbd) and crude palm oil (ex-kandla) lost Rs 10 each at Rs 4,170 and Rs 3,710 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) 7,250, groundnut Solvent refined (per tin) 1,180-1,190, Mustard Expeller (Dadri) 4,770, Mustard Pakki ghani (per tin) 665-820, Mustard kachi ghani (per tin) 820-920, Sunflower 6,300

Sesame mill delivery 5,800, Soybean Refined mill delivery (Indore) 4,420 Soyabean degum (Delhi) 4,320, Crude Palm Oil (Ex-kandla) 3,710, Cottonseed mill delivery (Haryana) 4,020, Palmolein (RBD) 4,170, Rice bran (phy) 3,750 and Coconut (per tin) 960-990

Non-edible oils: Linseed 3,950, Mahuwa 4,000, Castor 6,950-7,050, Neem 3,600-3,700, Rice bran 3,200-3,300 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