Edible oils fall on stockists selling

Edible oil prices fell sharply on the wholesale oils and oilseeds market during the week on increased selling by stockists against fall in demand due to rising mercury.
Besides, appreciating rupee which soared to a 11-month high making imports cheaper, also helped edible oil prices to decline.
However, linseed oil in the non-edible section, found fresh buying from paint industries and ended higher.
Traders said apart from stockists selling against reduced offtake by stockists as demand generally declines during summer season, influenced the trading sentiments.
They said adequate stocks following increased arrivals from growing regions also put pressure on the prices.

In the national capital, groundnut mill delivery (Gujarat) fell to Rs 7,200 from last close of Rs 7,500 per quintal. Groundnut solvent refined followed suit and dropped to Rs 1,260-1,280 from Rs 1,900-1,950 per tin.

Mustard expeller (Dadri) oil slipped to Rs 6,650 against last week's close of Rs 7,400 per quintal. Mustard pakki and kachi ghani oil eased to Rs 1,100-1,150 and Rs 1,150-1,250 against previous levels of Rs 1,290-1,370 and Rs 1,375-1,475 per tin respectively.
Sesame and cottonseed mill delivery (Haryana) oils also declined by Rs 300 and Rs 325 to Rs 8,900 and Rs 6,100 per quintal respectively.

In line with a general weak trend, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils closed lower at Rs 6,800 and Rs 6,500 against previous close of Rs 7,600-7,400, while crude palm oil (ex-kandla) lost Rs 100 at Rs 5,650 per quintal respectively.
Palmolein (rbd) and palmolein (Kandla) oils dropped to Rs 6,300 and Rs 6,050 from previous levels of Rs 7,000 and Rs 6,650 per quintal respectively.
In the non-edible section, linseed oil rose by Rs 150 to Rs 7,600 per quintal on increased demand from paints units.