Select edible oils remain weak on low demand, adequate stocks

Select edible oils -- mustard and groundnut -- continued to slide during the week at the wholesale oils and oilseeds market and recorded further losses on easing demand at existing levels.
In the non-edible section, linseed oil weakened on lack of demand from consuming industries.
Marketmen said besides low demand from retailers, adequate stocks position in the market on higher supplies from producing belts mainly kept pressure on mustard and groundnut mill delivery oil prices.
They said, however, movements in other edible and non-edible oils were restricted in the absence of worthwhile activity.
In the national capital, mustard expeller (Dadri) oils remained under selling pressure and fell further by Rs 200 to Rs 7,200 per quintal. Mustard pakki and kachi ghani oils, however, remained unaltered at Rs 1,200-1,250 and Rs 1,250-1,350 per tin, respectively on scattered demand from retailers.

Groundnut mill delivery (Gujarat) oil also declined by Rs 100 to Rs 8,700 per quintal, while groundnut solvent refined remained steady trend at Rs 1,500-1,550 per tin on little trading.

Palmolein (RBD) and palmolein (Kandla) oils, after moving in a tight range on scattered buying and selling, settled at previous levels of Rs 5,500 and Rs 5,350 per quintal, respectively.
On similar lines, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils ended flat at Rs 6,600 and Rs 6,300 per quintal, respectively.
Among non-edible oils, linseed oil lacked necessary buying support from consuming industries and eased by Rs 50 to Rs 8,350 per quintal.