Select edible oils remain weak on sluggish demand

Select edible oil prices fell by up to Rs 50 per quintal in the wholesale oils and oilseeds market today owing to sluggish demand at prevailing higher levels amid a weakening global trend. A few oils in the non-edible section, also eased on reduced industrial offtake.

Traders said sluggish demand at existing higher levels and reports of weakening trend in overseas markets mainly led to fall in select edible oil prices.

In the national capital, mustard expeller oil (Dadri) declined by Rs 50 to Rs 5,350 per quintal, while mustard pakki and kachi ghani oils traded lower by Rs 10 each to Rs 750-905 and Rs 905-1,005 per tin, respectively.

Cottonseed mill delivery oil (Haryana) shed Rs 20 to Rs 5,450 per quintal. Soyabean refined mill delivery (Indore) and soyabean (Kandla) oils fell by Rs 40 each to Rs 6,080 and Rs 5,730 per quintal, respectively.

Palmolein (rbd), palmolein (kandla) and crude palm oil (ex-kandla) also declined by Rs 20 each to Rs 5,700, Rs 5,400 and Rs 5,180 per quintal, respectively.

In the non-edible section, linseed oil lost Rs 50 to Rs 4,500 per quintal on lack of demand from paint manufacturers, while castor oil traded lower by the same margin to Rs 8,450-8,550 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) 5,350, Mustard Pakki ghani (per tin) 750-905, Mustard kachi ghani (per tin) 905-1,005, Sunflower 6,300, Sesame mill delivery 6,180

soybean Refined mill delivery (Indore) 6,080, Soyabean degum (Kandla) 5,730, Crude Palm Oil (Ex-kandla) 5,180, Cottonseed mill delivery (Haryana) 5,450, 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 4,500, Mahuwa 4,000, Castor 8,450-8,550, Neem 4,000-4,100, 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