Edible oils decline on low demand, adequate stocks

Weak conditions emerged at the oils and oilseeds market during the week with prices of edible oil drifting by upto Rs 250 per quintal owing to slackened demand from retailers and vanaspati millers.
Linseed oils in the non-edible section, also softened due to reduced offtake by consuming industries.
Traders said apart from muted demand from retailers and vanaspati millers, adequate stocks position on higher supplies from producing regions mainly kept pressure on edible oil prices.
Meanwhile, India's vegetable oil imports rose 24 per cent last month to 14.18 lakh tonnes on sharp jump in shipments of RBD palmolein, owing to low global prices.

Imports of vegetable oils (comprising edible and non- edible oils) stood at 11.39 lakh tonnes in December 2014, the Solvent Extractors' Association of India said.
In the national capital, mustard expeller (Dadri) oil plunged by Rs 250 to Rs 8,500 per quintal. Mustard pakki and kachi ghani oils followed suit and shed Rs 50 each to Rs 1,350-1,400 and Rs 1,400-1,500 per tin.

Groundnut mill delivery (Gujarat) and cottonseed mill delivery (Haryana) oils also declined by Rs 50 each to Rs 9,150 and Rs 5,750, while sesame mill delivery oil lost Rs 100 at Rs 6,900 per quintal, respectively.
Palmolein (rbd) and Palmolein (Kandla) oils too traded lower by Rs 50 each to Rs 5,200 and Rs 5,150, while crude palm oil (ex-kandla) eased by a similar margin to Rs 4,050 per quintal, respectively.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils declined by Rs 100 each to Rs 6,400 and Rs 6,100 per quintal, respectively.
Coconut oil which remained steady for the major part of week, at the fag-end met with resistance and ended lower by Rs 50 at Rs 1,850-1,900 per tin.
In the non-edible section, linseed oil moved down by Rs 100 to Rs 9,000 per quintal on lack of demand from paint industries.