Palmolein oil weakens on lower global trend

In lacklustre trade, palmolein oil prices shed Rs 10 per quintal in the wholesale oils and oilseeds market today on lower global trend. Elsewhere, other edible and non-edible oils traded in a tight range on alternate bouts of trading and pegged around previous levels.

Traders said apart from lower trend in global markets, sluggish demand from local parties and millers also weighed on the wholesale palmolein oil prices.

They said floating of tender by the state-owned trading firm MMTC to import 6,000 tonne of RBD palmolein, also gave some impact.

Meanwhile, palm oil futures for the September delivery contract declined 0.4 per cent to $734 a metric tonne on the Malaysia Derivatives Exchange. In the edible section, palmolein (rbd) oil lost Rs 10 to Rs 4,180 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) 7,350, groundnut Solvent refined (per tin) 1,220-1,230, Mustard Expeller (Dadri) 4,800, Mustard Pakki ghani (per tin) 675-830, Mustard kachi ghani (per tin) 830-930, Sunflower 6,300

Sesame mill delivery 5,850, Soybean Refined mill delivery (Indore) 4,450 Soyabean degum (Delhi) 4,350, Crude Palm Oil (Ex-kandla) 3,700, Cottonseed mill delivery (Haryana) 4,080, Palmolein (RBD) 4,180, Rice bran (phy) 3,750 and Coconut (per tin) 1020-1050

Non-edible oils: Linseed 4,000, Mahuwa 4,000, Castor 7,000-7,100, Neem 3,650-3,750, 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