Select edible oils decline on weak global cues

Edible oil prices declined by up to Rs 30 per quintal in the wholesale oils and oilseeds market today on fall in demand at prevailing levels amid weak global cues. 

Market analysts said trading sentiment in edible oils turned bearish as palm oil declined in global markets on speculation that rising production in Indonesia and Malaysia, the biggest growers, will boost global inventories of the tropical oil. 

Meanwhile, palm oil dropped 0.3% to $1,060 a tonne on the Malaysia Derivatives Exchange.

In the national capital, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils oils declined by Rs 30 and Rs 20 to Rs 6,270 and Rs 5,880, while crude palm oil (ex-kandla) shed Rs 20 to Rs 5230 per quintal respectively. 

Palmolein (rbd) and palmolein (kandla) oils followed suit and traded lower by Rs 5,730 and Rs 5,430 per quintal respectively. 

Following are today's quotations 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) 8,200, groundnut Solvent refined (per tin) 1,400-1,410, Mustard Expeller (Dadri) 5,750, Mustard Pakki ghani (per tin) 755-910, Mustard kachi ghani (per tin) 910-1,010

Sunflower 6,300, Sesame mill delivery 6,200, soybean Refined mill delivery (Indore) 6,270, Soyabean degum (Kandla) 5,880, Crude Palm Oil (Ex-kandla) 5,230, Cottonseed mill delivery (Haryana) 5,500, Palmolein (RBD) Rs 5,730 Palmolein (Kandla) 5,430, Rice bran (phy) 3,750 and Coconut (per tin) 1,600-1,660

Non-edible oils: Linseed 4,500, Mahuwa 4,000, Castor 8,500-8,600, Neem 4,100-4,200, Rice bran 3,300-3,400 and palm fatty 3,225-3,300

Oilcakes: groundnut dehusk 800-850, sesame 950-1,150, Mustard (new) 1,000-1,025, Mustard 1,200-1,210 and Cottonseed 1,075-1,175