Select edible oils fall on sluggish demand, global cues

Select edible oil prices fell up to Rs 200 per quintal at the wholesale oils and oilseeds market today due to slackened demand at prevailing higher levels amid a weak global trend.
However, non-edible oils remained steady due to restricted buying from consuming industries.
Marketmen said slackened demand at prevailing higher levels and a weakening trend in the global markets after the US department of Agriculture increased its estimates for global production, mainly pulled down select edible oil prices.
Meanwhile, palm oil for April delivery fell 0.6 per cent to USD 778 a tonne on the Malaysia Derivatives Exchange.
In the national capital, groundnut mill delivery (Gujarat) and mustard expeller (Dadri) oil fell by Rs 200 each to Rs 7,500 and Rs 7,200, while cottonseed mill delivery (Haryana) oil traded lower by Rs 100 at Rs 6,100 per quintal, respectively.

Tracking a weak global trend, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils declined by Rs 200 and Rs 150 to Rs 7,250 and Rs 7,000 per quintal, respectively.
Palmolein (rbd) and palmolein (Kandla) oils followed suit and lost Rs 200 and Rs 150 to Rs 6,350 and Rs 6,000 per quintal, respectively.