Select edible oil prices edge lower this week

Select edible oil prices drifted lower at the wholesale oil and oilseeds market during the week owing to slackened demand from vanaspati millers against ample stocks position on increased supplies.

However, groundnut oil edged up on pick up in demand from retailers.

Castor and linseed oils in the non-edible oil section, also finished higher on the back of increased offtake by consuming industries.

Marketmen said besides easing demand from vanaspati millers, adequate stocks position on increased supplies from producing regions and a weak trend overseas led to the decline in select edible oil prices.

In the national capital, mustard expeller (Dadri) oil declined by Rs 100 to Rs 7,650 per quintal. Mustard pakki and kachani oils followed suit and shed Rs 10 each to Rs 1,265-1,310 and Rs 1,315-1,415 per tin, respectively.

Tracking a weak trend overseas, palmolein (RBD) and palmolein (Kandla) oils fell by Rs 100 each to Rs 7,050 and Rs 7,100 per quintal, respectively.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils also shed Rs 50 each to Rs 7,600 and Rs 7200 per quintal, respectively.

On the other hand, groundnut mill delivery (Gujarat) oil moved up by Rs 150 to Rs 8,400 per quintal. Groundnut solvent refined followed suit and edged up by Rs 20 to Rs 1,720-1,820 per tin.

In the non-edible section, castor oil moved up by Rs 100 to Rs 7100-7200 per quintal. Linseed oil also found buying support from paint industries and ended higher by a similar margin to Rs 9,000 per quintal.