Select edible oils extend losses on subdued demand

Select edible oil prices extended losses for the third straight day by losing up to Rs 100 per quintal at the wholesale oils and oilseeds market today on subdued demand amid a weakening global trend.
However, non-edible oils moved in a narrow range in scattered deals and settled around previous levels.
Marketmen said subdued demand and a weakening global trend on concern that demand may shrink on increasing supplies of soybean oil mainly influenced the sentiment.
Meanwhile, palm oil for March delivery retreated 0.8 per cent to USD 775 a tonne, the lowest since November 12 on the Malaysia Derivatives Exchange.

In the national capital, mustard expeller (Dadri) and sesame mill delivery oils fell further by Rs 100 each to Rs 7,200 and Rs 11,400 per quintal, respectively.
Tracking a weakening global trend, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils declined by Rs 50 each to Rs 7,150 and Rs 6,850 per quintal, respectively.
Palmolein (rbd) and palmolein (Kandla) oils followed suit and shed Rs 50 each at Rs 6,300 and Rs 5,900 per quintal, respectively.