Select edible oils turn weak on subdued demand

Select edible oils fell up to Rs 100 per quintal in the wholesale oils and oilseeds market today on fall in demand at prevailing levels amid a weak global trend.

However, palmolein found selective buying and continued to show strength. Trading sentiment turned bearish as palm oil declined after a six-session winning streak in Malaysia with buyers deferring buying.

Meanwhile, palm oil futures for October-delivery fell 0.7 per cent to $806 a tonne on the Malaysia Derivatives Exchange. Prices gained 3.9 per cent in five days yesterday to the highest level since April 9.

In the edible section, mustard expeller oil (Dadri) lacked buying support and lost Rs 100 to Rs 5,300 per quintal. Soyabean refined mill delivery (Indore) and soyabean degum (Delhi) fell by Rs 40 and Rs 30 to Rs 4,860 and Rs 4,600 per quintal.

Coconut oil also traded lower by Rs 20 to Rs 1050-1080 per tin. However, palmolein (rbd) strengthened by Rs 70 to Rs 4,650 per quintal. 

Following are today's quotations in Rs per quintal:

Oilseeds: mustard seed 2,500-2,600 and groundnut seed 2,100-2,850
Vanaspati ghee (15 litres tin) 750-860

Edible oils: Groundnut mill delivery (Gujarat) 8,500, groundnut Solvent refined (per tin) 1,400-1,410, Mustard Expeller (Dadri) 5,300, Mustard Pakki ghani (per tin) 705-860, Mustard kachi ghani (per tin) 860-960

Sunflower 6,300, Sesame mill delivery 5,900, soybean Refined mill delivery (Indore) 4,860 Soyabean degum (Delhi) 4,600, Crude Palm Oil (Ex-kandla) 3,950, Cottonseed mill delivery (Haryana) 4,500, Palmolein (RBD) 4,650, Rice bran (phy) 3,750 and Coconut (per tin) 1,050-1,080

Non-edible oils: Linseed 4,100, Mahuwa 4,000, Castor 7,650-7,750, Neem 3,750-3,850, Rice bran 3,300-3,400 and palm fatty 3,225-3,300

Oilcakes: groundnut de-husk 800-850, sesame 950-1,150, Mustard (new) 1,025-1,050, Mustard 1,200-1,210 and Cottonseed 1,075-1,175