Select edible oils extend losses on stockists selling

Select edible oil prices fell by Rs 50 per quintal at the wholesale oils and oilseeds market today on selling by stockists against sluggish demand amid a weakening global trend.
A few oils in the non-edible section also eased on reduced offtake by industrial units.
Traders said stockists selling against sluggish demand mainly kept pressure on edible oil prices.
They said a weak global trend where palm oil declined the most in more than a week on concern that the highest price in almost 18 months may weaken demand also dampened the sentiment.
Meanwhile, palm oil for May delivery retreated 1.1 per cent to USD 876 a tonne, the biggest decline since February 27 on Malaysia Derivatives Exchange.

In the national capital, mustard expeller (Dadri) and cottonseed mill delivery (Haryana) oils fell further by Rs 50 each to Rs 7,450 and Rs 6,250 per quintal, respectively on subdued demand.

Tracking a weakening global trend, palmolein (rbd) and palmolein (Kandla) oils lost Rs 50 each to Rs 6,800 and Rs 6,450 per quintal, respectively.
Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils followed suit and enquired lower by Rs 50 each to Rs 7,600 and Rs 7,350 per quintal, respectively.
In the non-edible section, castor and linseed oil declined by Rs 50 each to Rs 9,550-9,650 and Rs 7,550 per quintal, respectively.