Palmolein oil weakens on muted demand, global cues

Palmolein oil prices fell by Rs 50 per quintal at the wholesale oils and oilseeds market today on subdued demand along with a weak trend overseas.
Castor oil in the non-edible section, also eased on reduced offtake by consuming industries.
Marketmen said besides easing demand from retailers, a weak trend overseas mainly weighed on palmolein oil prices.
Meanwhile, the benchmark palm oil contract for April delivery was down 1.2 per cent at 2,487 ringgit (USD 629.30) a tonne on the Bursa Malaysia Derivatives Exchange.
In the national capital, palmolein (RBD) and palmolein (Kandla) oils declined by Rs 50 each to Rs 6,200 and Rs 6,250 per quintal respectively.

Among non-edible, castor oil also lost Rs 100 to Rs 8,000-8,100 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 9,400, Groundnut Solvent Refined (per tin) Rs 1,675-1,775, Mustard expeller (Dadri) Rs 7,900, Mustard Pakki Ghani (per tin) Rs 1,300-1,345, Mustard Kachi Ghani (per tin) Rs 1,350-1,450, Sesame Mill delivery Rs 8,700, Soybean Refined Mill Delivery (Indore) Rs 7,600, Soybean Degum (Kandla) Rs 7,200, Crude Palm Oil (Ex-Kandla) Rs 5,100, Cottonseed Mill Delivey (Haryana) Rs 6,800, Palmolein (RBD) Rs 6,200, Palmolein (Kandla) Rs 6,250 and Coconut (per tin) Rs 3,000-3,050.

Non-edible oils: Linseed Rs 8,900, Castor Rs 8,000-8,100, Neem Rs 5,350-5,450.