Select edible oils down on global cues

Taking cues from weak global market, select edible oil prices fell by up to Rs 50 per quintal in the wholesale oils and oilseeds market today. 

Fall in demand from vanaspati units also kept pressure on the edible oil prices. 

Sentiments in select edible oils turned slightly weak after palm oil dropped on speculation that stockpiles in Malaysia, the second largest-grower, will expand from the highest level in 18 months as production increases on favourable weather.   

Meanwhile, palm oil for the September delivery declined by 1.2% to $1,002 per tonne on the Malaysia Derivatives Exchange.

In the national capital, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils fell by Rs 30 each to Rs 6,220 and Rs 5,820 per quintal, respectively.

 In line with general trend, palmolein (rbd) and palmolein (kandla) oils traded lower by Rs 50 each to Rs 5,750 and Rs 5,450 per quintal, respectively. Groundnut mill delivery (Gujarat) fell by Rs 20 to Rs 8,380 per quintal while mustard expeller (Dadri) lost Rs 30 at Rs 5,670 per quintal, respectively.

In line with mustard, its pakki and kachi ghani oils also moved down by Rs 10 each to Rs 745-900 and Rs 900-1000 per tin, respectively. 

Following were today's quotations: 

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) 8,380, groundnut Solvent refined (per tin) 1,425-1,435, Mustard Expeller (Dadri) 5,670, Mustard Pakki ghani (per tin) 745-900, Mustard kachi ghani (per tin) 900-1,000

Sunflower 6,300, Sesame mill delivery 6,170, soybean Refined mill delivery (Indore) 6,250, Soyabean  degum (Kandla) 5,850, Crude Palm Oil (Ex-kandla) 5,200, Cottonseed mill delivery (Haryana) 5,460

Palmolein (RBD) Rs 5,800 Palmolein (Kandla) 5,500, Rice bran (phy) 3,750 and Coconut (per tin) 1,700-1,760

Non-edible oils: Linseed 4,600, Mahuwa 4,000, Castor 8,450-8,550, 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