Palmolein decline on lower global trend

In restricted activity, palmolein prices declined by Rs 20 per quintal in the wholesale oils and oilseeds market today on lower global trend. Elsewhere, other commodities continued to trade around previous level in the absence of any worthwhile activity.

In the non-edible section, linseed oil showed some weakness on lack of enquiries. Traders said subdued demand and reports of weakening trend in overseas market helped palmolein prices to trade lower.

Meanwhile, palm oil futures for August delivery shed one per cent to $728 a tonne on the Malaysia Derivatives Exchange, down 3.6 per cent for the week. In the edible section, palmolein (rbd) lost Rs 20 to Rs 4,160 per quintal.

Among the non-edible section, linseed oil also shed Rs 50 to Rs 3,950 per quintal on reduced paint industries offtake.

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) 7,100, groundnut Solvent refined (per tin) 1,160-1,170, Mustard Expeller (Dadri) 4,750, 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) 4,400 Soyabean degum (Delhi) 4,300

Crude Palm Oil (Ex-kandla) 3,700, Cottonseed mill delivery (Haryana) 4,020, Palmolein (RBD) 4,160, Rice bran (phy) 3,750 and Coconut (per tin) 960-990

Non-edible oils: Linseed 3,950, Mahuwa 4,000, Castor 6,850-6,950, 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.