Select edible oils decline on subdued demand

Select edible oils drifted by Rs 20 per quintal in the wholesale oils and oilseeds market today on subdued demand at existing higher levels amid weakening global trend.

Trading sentiment turned slightly bearish after palm oil prices declined in Malaysia, as crude oil and soybeans eased, reducing demand for the tropical commodity, used in food and biofuels.

Meanwhile, palm oil for the September delivery contract fell 0.8 per cent to $736 a metric tonne on the Malaysia Derivatives Exchange.

Marketmen said apart from weakening trend in Malaysia, fall in demand at existing levels led to a fall in select wholesale edible oil prices.

In the edible section, palmolein (rbd), soyabean refined mill delivery and soyabean degum (Delhi) were down by Rs 20 each to Rs 4,170, Rs 4,440 and Rs 4,340, while crude palm oil (ex-kandla) traded lower by the same margin at 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) 7,350, groundnut Solvent refined (per tin) 1,220-1,230, Mustard Expeller (Dadri) 4,820, 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) 4,440 Soyabean degum (Delhi) 4,340, Crude Palm Oil (Ex-kandla) 3,710, Cottonseed mill delivery (Haryana) 4,080, Palmolein (RBD) 4,170, Rice bran (phy) 3,750 and Coconut (per tin) 1,020-1,050

Non-edible oils: Linseed 4,000, Mahuwa 4,000, Castor 7,100-7,200, 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