Select edible, non-edible oils down on global cues, low demand

Prices of select edible oils fell up to Rs 50 per quintal on the wholesale oils and oilseeds market today as stocksits trimmed positions amid a weak trend overseas.
In the non-edible section, linseed and neem oils weakeked by Rs 20 per quintal owing to sluggish demand from consuming industries.
Traders said besides slackened demand from millers, a weak trend in the overseas markets put pressure on select edible oil prices.
Globally, palm oil fell on speculation that a decline in exports from Malaysia, the world's second-largest producer, may expand stockpiles.
Palm oil for delivery in April contracts retreated as much as 0.5 per cent to 2,546 ringgit (USD 763) per metric tonne on the Bursa Malaysia Derivatives.

In the national capital, crude palm oil (ex-kandla), palmolein (RBD) and palmolein (Kandla) traded Rs 50 each lower at Rs 5,050, Rs 6,350 and Rs 5,950 per quintal respectively.
In line with overall trends, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) shed Rs 20 each at Rs 7,280 and Rs 6,980 per quintalr respectively.
In the non-edible section, linseed and neem oils were also under some pressure due to slackened demand from consuming industries and traded Rs 20 each lower at Rs 7,380 and Rs 5,280 per quintal respectively.