Select edible oils fall on subdued demand, global cues

Select edible oil prices fell by Rs 200 per quintal on the wholesale oils and oilseeds market today on subdued demand at prevailing higher levels amid a weak global trend.
However, non-edible oils held steady in limited deals.
Marketmen said fall in demand at current levels and a weak global trend as crude oil's biggest decline in almost 14 months yesterday reduced the appeal of vegetable oils as biofuel feedstock and Indonesia forecast a jump in production this year, mainly led to fall in select edible oil prices.
Meanwhile, palm oil for March delivery fell 0.7 per cent to USD 799 a metric tonne on the Malaysia Derivatives Exchange.

In the national capital, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils fell by Rs 100 each to Rs 7,400 and Rs 7,100, while crude palm oil (ex-kandla) traded lower by the same margin to Rs 5,400 per quintal respectively on weak global trend.
Palmolein (rbd) and palmolein (Kandla) oils followed suit and lost Rs 200 each at Rs 6,500 and Rs 6,100 per quintal, respectively.