Palmolein, crude palm oil decline on global cues

Palmolein and crude palm oil prices drifted by Rs 50 per quintal in the wholesale oils and oilseeds market on limited buying at existing higher levels amid weakening global trend.

Trading sentiment turned bearish after palm oil declined in Malaysia as some investors locked in gains after the price surged to the highest-level since March 2008, and on speculation that China may be poised to increase interest rates, hurting edible-oils demand.   

Besides, sluggish demand from millers also cast its shadow, they added.

Meanwhile, palm oil futures for April delivery contract fell 0.8 per cent to 1,273 a metric tonne on the Malaysia Derivatives Exchange. 

In the national capital, palmolein (rbd) and crude palm oil (ex-kandla) oils fell by Rs 50 each to Rs 6,300 and Rs 5,550 per quintal, respectively.

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) 1,375-1,385, Mustard Expeller (Dadri) 5,900, Mustard Pakki ghani (per tin) 770-925, Mustard kachi ghani (per tin) 925-1,025, Sunflower 6,300, Sesame mill delivery 6,400

soybean Refined mill delivery (Indore) 6,520, Soyabean degum (Kandla) 6,150, Crude Palm Oil (Ex-kandla) 5,550, Cottonseed mill delivery (Haryana) 5,800, Palmolein (RBD) 6,300, Rice bran (phy) 3,750 and Coconut (per tin) 1,500-1,560

Non-edible oils: Linseed 4,650, Mahuwa 4,000, Castor 8,700-8,800, Neem 4,150-4,250, 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