Mustard oil slide on higher output hopes, low demand

Mustard oil prices drifted by Rs 100 per quintal in an otherwise steady wholsale oils and oilseeds market today on hopes of higher production amid low demand from local parties.
However, other edible and non-edible oils continued to move in a narrow range in limited deals and settled around previous level.
Traders said apart from muted demand from local parties, expectations that mustard production may rise by 10 per cent on account of favorable weather conditions in the last few days, led to the fall in mustard oil prices.
In the national capital, mustard expeller (Dadri) oil weakened by Rs 100 to Rs 8,400 per quintal on expectations that India's mustard production may rise by 10 per cent to 5.5 million tonnes on account of favorable weather conditions in last few days.

The cold weather condition has picked up in the Northern and Central India, which is good for standing mustard crop. Some winter showers have also given a breather to the farmers, as a result drop in temperature is seen benefiting the standing crops.
Following are today's quotations (in Rs per quintal):

Oilseeds: Mustard seed Rs 2,950-3,050 and Groundnut Seed Rs 2,150-2,900. Vanaspati Ghee (15-litre tin) Rs 850-1,065.
Edible oils: Groundnut Mill Delivery (Gujarat) Rs 9,200, Groundnut Solvent Refined (per tin) Rs 1,725-1,825, Mustard expeller (Dadri) Rs 8,400, Mustard Pakki Ghani (per tin) Rs 1,350-1,400, Mustard Kachi Ghani (per tin) Rs 1,400-1,500, Sesame Mill delivery Rs 6,900, Soyabean Refined Mill Delivery (Indore) Rs 6,400, Soyabean Degum (Kandla) Rs 6,100, Crude Palm Oil (Ex-Kandla) Rs 4,050, Cotton seed Mill Delivery (Haryana) Rs 5,750, Palmolein (RBD) Rs 5,150, Palmolein (Kandla) Rs 5,100 and Coconut (per tin) Rs 1,850-1,900.

Non-edible oils: Linseed Rs 9,000, Castor Rs 9,400-9,500, Neem Rs 5,350-5,450.