Palmolein oil prices soften on sluggish demand

Palmolein oil prices eased by Rs 50 per quintal in an otherwise steady wholesale oils and oilseeds market today following muted demand from retailers.
Castor oil in the non-edible section, also traded lower on reduced offtake by consuming industries.
Traders said subdued demand from retailers mainly led to decline in palmolein oil prices.
Meanwhile,palm oil imports fell for the third consecutive month by 11.56 per cent to 6,08,762 tonnes in January on account of good domestic oilseeds production and better domestic availability of edible oils, industry body Solvent Extractors Association (SEA) said today.
India, the world's leading vegetable oil buyer, had imported 6,88,393 tonnes palm oil in January 2015.

In the national capital, palmolein (RBD) and palmolein (Kandla) oils were down by Rs 50 each to Rs 6,200 and Rs 6,250 per quintal respectively.

Among non-edible, castor oil also shed Rs 50 at Rs 9,650-9,750 per quintal.
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 800-1,000.
Edible oils: Groundnut Mill Delivery (Gujarat) Rs 9,800,Groundnut Solvent Refined (per tin) Rs 1,800-1,900, Mustard expeller (Dadri) Rs 8,400, Mustard Pakki Ghani (per tin) Rs 1,350-1,395, Mustard Kachi Ghani (per tin) Rs 1,400-1,500, Sesame Mill delivery Rs 8,400, Soybean Refined Mill Delivery (Indore) Rs 6,900, Soybean Degum (Kandla) Rs 6,600, Crude Palm Oil (Ex-Kandla) Rs 4,700, Cottonseed Mill Delivery (Haryana) Rs 6,800, Palmolein (RBD) Rs 6,200, Palmolein (Kandla) Rs 6,250 and Coconut (per tin) Rs 1,850-1,900.

Non-edible oils: Linseed Rs 9,800, Castor Rs 9,650-9,750, Neem Rs 5,350-5,450.