Select edible oils remain weak on global cues

Select edible oil prices fell further by up to Rs 30 per quintal in the wholesale oils and oilseeds market today on sustained selling by stockists influenced by a weakening global trend. 

Trading sentiments remained bearish as palm oil declined in global markets on concerns that output will continue to grow through the peak production period and exports may drop after the Muslim fasting month of Ramadan.

Meanwhile, palm oil for the October delivery slipped 0.5% to $1,017 a tonne on the Malaysia Derivatives Exchange.

In the national capital, soyabean mill delivery (Indore) and soyabean degum (Kandla) oils shed Rs 30 each to Rs 6,220 and Rs 5,800, respectively, while crude palm oil (ex-kandla) traded lower by the same margin to Rs 5,150 per quintal.   

Palmolein (rbd) and palmolein (kandla) oils followed suit and traded lower by Rs 20 each to Rs 5,780 and Rs 5,480 per quintal, 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) 5,720, Mustard Pakki ghani (per tin) 745-900, Mustard kachi ghani (per tin) 900-1,000

Sunflower 6,300, Sesame mill delivery 6,200, soybean Refined mill delivery (Indore) 6,220, Soyabean  degum (Kandla) 5,800, Crude Palm Oil (Ex-kandla) 5,150

Cottonseed mill delivery (Haryana) 5,480, Palmolein (RBD) Rs 5,780 Palmolein (Kandla) 5,480, Rice bran (phy) 3,750 and Coconut (per tin) 1,700-1,760

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