Select edible oils decline on sluggish demand

Select edible oil prices fell up to Rs 100 per quintal in the wholesale oils and oilseeds market owing to slack demand at prevailing higher levels.

A few oils in the non-edible section, also eased due to reduced industrial offtake. Traders said fall in demand at existing higher levels mainly led to the decline in wholesale select edible oil prices.

Reduced offtake by industrial units and other consuming industries helped non-edible oil prices to trade lower, they said. In the national capital, groundnut mill delivery (Gujarat) oil lost Rs 50 to Rs 7,350 per quintal.

Groundnut solvent refined lost Rs 25 to Rs 1,350-1,360 per tin.

Soyabean refined mill delivery (Indore) and soyabean degum (kandla) oils also down by Rs 100 and Rs 50 to Rs 6,420 and Rs 6,100, while palmolein (rbd) oil lost Rs 50 to Rs 6,250 per quintal. 

However, crude palm oil (ex-kandla) found selective buying and rose to Rs 5,700 from Rs 5,550 per quintal.

In the non-edible section, linseed oil declined by Rs 50 to Rs 4,600 per quintal on lack of paint industries support. Neem oil too traded lower by the same margin to Rs 4,100-4,200 per quintal.  

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) 7,350, groundnut Solvent refined (per tin) 1,350-1,360, 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) 6,420, Soyabean degum (Kandla) 6,100, Crude Palm Oil (Ex-kandla) 5,700, Cottonseed mill delivery (Haryana) 5,800, Palmolein (RBD) 6,250, Rice bran (phy) 3,750 and Coconut (per tin) 1,500-1,560

Non-edible oils: Linseed 4,600, Mahuwa 4,000, Castor 8,700-8,800, Neem 4,100-4,200, 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