Select edible oils weaken on poor global trend

Select edible oil prices drifted by Rs 20 per quintal in the wholesale oils and oilseeds market today on sluggish demand amid lower trend in overseas markets.

Marketmen said sluggish demand due to rising mercury and reports of a weakening trend in Malaysia led to a fall in select wholesale edible oil prices.

Meanwhile, palm oil futures for September delivery fell by 0.8 per cent to $722 a metric tonne on the Malaysia Derivatives Exchange, the lowest since November 17.

In the edible oil section, soyabean refined mill delivery (Indore) and soyabean degum (Delhi) lost Rs 20 each to Rs 4,400 and Rs 4,300 per quintal, respectively.

Palmolein (rbd) and crude palm oil (ex-kandla) fell by the same margin at Rs 4,120 and Rs 3,640 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) 720-830

Edible oils: Groundnut mill delivery (Gujarat) 7,500, groundnut Solvent refined (per tin) 1,250-1,260, Mustard Expeller (Dadri) 4,900, Mustard Pakki ghani (per tin) 685-840, Mustard kachi ghani (per tin) 840-940, Sunflower 6,300

Sesame mill delivery 5,850, Soybean Refined mill delivery (Indore) 4,400 Soyabean degum (Delhi) 4,300, Crude Palm Oil (Ex-kandla) 3,640, Cottonseed mill delivery (Haryana) 4,150, Palmolein (RBD) 4,120, Rice bran (phy) 3,750 and Coconut (per tin) 1,020-1,050

Non-edible oils: Linseed 4,000, Mahuwa 4,000, Castor 7,100-7,200, Neem 3,650-3,750, Rice bran 3,200-3,300 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