Edible oil remains weak on easing demand, adequate stock

Edible oil prices fell for the second straight week at the wholesale oil and oilseed market on easing demand from vanaspati millers and retailers against adequate stock position.
However, non-edible oil moved in a narrow range on lack of worthwhile activity from consuming industries and settled at previous levels.
Oil traders said easing demand from vanaspati millers and retailers against sufficient stock position amid a weak global cues kept pressure on edible oil prices.
In the national capital, groundnut mill delivery (Gujarat), mustard expeller (Dadri) and cottonseed mill delivery (Haryana) oils eased Rs 50 each to Rs 8,850, Rs 7,500 and Rs 5,750 per quintal, respectively.

Coconut oil, which remained steady for the major part of week, met with resistance at the fag end and settled lower by Rs 25 at Rs 2,200-2,225 per tin.
Palmolein (RBD) and palmolein (Kandla) oils declined Rs 50 each to Rs 5,450 and Rs 5,350, respectively, while crude palm oil (ex-Kandla) traded lower by a similar margin at Rs 4,200 per quintal on weak global cues.
Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oil followed suit and weakened by a similar margin at Rs 6,500 and Rs 6,200 per quintal, respectively.
In the non-edible section, castor and linseed oil prices moved in a tight range on lack of worthwhile activity from consuming industries and ended flat at Rs 9,800-9,900 and Rs 8,450 per quintal, respectively.