Edible oils fall on subdued demand, adequate stocks

Amid muted demand from millers as well as retailers against adequate stocks position on higher supplies from growing belts, edible oil prices drifted down at the wholesale oils and oilseeds market during the week.
A few oils, in the non-edible section, also eased on reduced offtake by consuming industries.
Traders said besides fall in demand from retailers and vanaspati millers, adequate stocks position on increased supplies from producing belts kept pressure on edible oil prices.
Appreciating rupee against the dollar making imports cheaper also weighed on prices. Rupee closed at a fresh two- year high of 63.58 against the dollar at the forex market.

In the national capital, groundnut mill delivery (Gujarat) oil fell by Rs 200 to Rs 8,700 per quintal. Groundnut solvent refined followed suit and eased to Rs 1,600 -1,700 against last close of Rs 1,700-1,800 per tin.
Sesame mill delivery oil drifted lower by Rs 200 to Rs 7,800, while cottonseed mill delivery (Haryana) and mustard expeller (Dadri) oils declined by Rs 50 each to Rs 6,350 and Rs 7,700 per quintal, respectively.

Palmolein (RBD) and palmolein (Kandla) oils too shed Rs 50 each to Rs 5,250 and Rs 5,300 per quintal, respectively.
In the non-edible section, linseed oil moved down by Rs 100 to Rs 8,800 per quintal on subdued demand from paint industries.

Castor oil also traded lower by Rs 50 to Rs 8,950-9,050 per quintal on reduced industrial offtake.