Edible oils fall on sluggish demand, adequate supply

Edible oil prices fell on the the wholesale oils and oilseeds market during the week owing to slackened demand at prevailing levels amid adequate supply.
However, non-edible oils moved in a tight range in scattered deals and settled around previous levels.
Traders said besides reduced offtake by retailers as demand generally decline due to rising mercury, higher supplies from producing regions, mainly led to the fall in edible oil prices.
In the national capital, groundnut mill delivery (Gujarat) shed Rs 50 to Rs 7,200 per quintal, while sesame and cottonseed mill delivery (Haryana) oils eased by Rs 200 and Rs 100 to Rs 8,800 and Rs 6,050 per quintal respectively.

In line with weak trend, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils also lost Rs 100 each to Rs 6,800 and Rs 6,500. Crude palm oil (ex-kandla) also traded lower lower at Rs 5,450 per quintal from previous closing of Rs 5,550.
Palmolein (rbd) and palmolein (Kandla) oils too traded in negative zone with a fall of Rs 200 each at Rs 6,000 and Rs 5,800 per quintal respectively.
In the non-edible section, linseed, castor and neem oils moved in a narrow range in the absence of worthwhile activity, settled at previous levels of Rs 7,700, Rs 9,450-9,550 and Rs 5,300-5,400 per quintal respectively.