Select edible oils fall on global cues

Edible oil prices fell up to Rs 150 per quintal in the wholesale oils and oilseeds market today on sluggish demand amid a weakening global trend.

A few oils in the non-edible section, also eased on reduced industrial offtake.

Trading sentiments turned bearish after palm oil dropped in Malaysia on concerns that increasing supplies from Indonesia and Malaysia, the world’s largest growers, may boost cooking oil inventories. 

Meanwhile, palm oil futures for the July-delivery contract fell by 0.6% to $1,065 a metric tonne on the Malaysia Derivatives Exchange.

In the national capital, mustard expeller oil (Dadri) fell by Rs 50 to Rs 5,400 per quintal. Its mustard pakki and kachi ghani oils shed Rs 10 each to Rs 760-915 and Rs 915-1015 per tin, respectively. 

Sesame and cottonseed mill delivery (Haryana) oils were down by Rs 30 and Rs 50 to Rs 6,200 and Rs 5,500 per quintal, respectively.

Soyabean refined mill delivery (Indore) and crude palm oil (ex-kandla) oils declined by Rs 50 and Rs 100 to Rs 6,100 and Rs 5,100 per quintal, respectively. Palmolein (rbd) and palmolein (Kandla) oil fell by Rs 70 each to Rs 5,700 and Rs 5,400 per quintal, respectively.

In the non-edible section, linseed oil lost Rs 50 to Rs 4,600 per quintal on reduced offtake by paint industries, while castor oil shed Rs 50 to Rs 8,550-8,650 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) 8,000, groundnut Solvent refined (per tin) 1,350-1,360, Mustard Expeller (Dadri) 5,400, Mustard Pakki ghani (per tin) 760-915, Mustard kachi ghani (per tin) 915-1,015, Sunflower 6,300

Sesame mill delivery 6,200, soybean Refined mill delivery (Indore) 6,100, Soyabean degum (Kandla) 5,800, Crude Palm Oil (Ex-kandla) 5,100, Cottonseed mill delivery (Haryana) 5,500, Palmolein (RBD) Rs 5,700 Palmolein (Kandla) 5,400, Rice bran (phy) 3,750 and Coconut (per tin) 1,600-1,660

Non-edible oils: Linseed 4,600, Mahuwa 4,000, Castor 8,550-8,650, Neem 4,050-4,150, 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