Palmolein, soyabean oils slide on low demand, global cues

Prices of palmolein and soyabean oil prices declined by Rs 50 per quintal at the wholesale oils and oilseeds market today following muted demand coupled with a weak trend overseas.
Castor oil in the non-edible section, also slipped on reduced offtake by consuming industries.
Marketmen said besides fading demand from vanaspati millers and retailers, a weak trend overseas mainly led to decline in palmolein and soyabean oil prices.
Meanwhile, the benchmark palm oil contract for April delivery was down 0.4 per cent at 2,476 ringgit (USD 626.20) a tonne on the Bursa Malaysia Derivatives Exchange.
In the national capital, palmolein (RBD) and palmolein (Kandla) oils drifted lower by Rs 50 each to Rs 6,150 and Rs 6,200 per quintal respectively.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla0 oils also traded lower by a similar margin to Rs 7,550 and Rs 7,150 per quintal respectively.

Among non-edible, castor oil too shed Rs 100 to Rs 7,900 -8,000 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 7,550, Soybean Degum (Kandla) Rs 7,150, Crude Palm Oil (Ex-Kandla) Rs 5,100, Cottonseed Mill Delivey (Haryana) Rs 6,800, Palmolein (RBD) Rs 6,150, Palmolein (Kandla) Rs 6,200 and Coconut (per tin) Rs 3,000-3,050.

Non-edible oils: Linseed Rs 8,900, Castor Rs 7,900-8,000, Neem Rs 5,350-5,450.