Select edible oils extend weakness on muted demand

Weak conditions continued unabated for yet another week at the wholesale oils and oilseeds market as prices of select edible oils drifted further lower on muted demand from vanaspati millers and retailers against sufficient stocks on higher supplies from producing belts.
However, soyabean oil remained in demand and made further progress.
Castor oil in the non-edible section, also slipped on reduced offtake by consuming industries.
Traders said besides fall in demand from vanaspati millers and retailers, adequate stocks position on increased arrivals from producing regions mainly kept pressure on select edible oil prices.
In the national capital, groundnut mill delivery (Gujarat) oil fell by Rs 100 to Rs 9,300 per quintal.

Mustard expeller (Dadri) oil shed Rs 50 to Rs 7,900 per quintal.

Palmolein (RBD) and Palmolein (Kandla) oils too declined by Rs 50 each to Rs 5,400 and Rs 5,450 per quintal respectively.
On the other hand, soyabean mill delivery (Indore) and soyabean degum (Kandla) oils advanced by Rs 50 each to Rs 6,500 and Rs 6,100 per quintal respectively.
In the non-edible section, castor oil traded lower by Rs 100 to Rs 8,900-9,000 per quintal.