Select edible oils soften on low demand

The wholesale oils and oilseeds market displayed a weak trend during the week with prices of select edible oils declining owing to slackened demand from vanaspati millers and retailers amid sufficient stocks.
Castor oil in the non-edible section also ended lower due to easing demand from consuming industries.
Oil traders said apart from fall in demand from vanaspati millers and retailers at prevailing levels, adequate stocks position on increased supplies from producing regions led to fall in select edible oil prices.
In the national capital, groundnut mill delivery (Gujarat) and mustard expeller (Dadri) oils fell by Rs 50 each to Rs 8,900 and Rs 7,550 per quintal, respectively.

Sesame mill delivery also traded lower by a similar margin to Rs 8,000 per quintal.
In line with a general weak trend, palmolein (RBD) and palmolein (Kandla) oils moved down by Rs 100 each to Rs 5,500 and Rs 5,400 per quintal, respectively.
Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils which remained steady for the major part of the week, met with resistance at the fag-end and declined by Rs 50 each to Rs 6,550 and Rs 6,250 per quintal respectively.
In the non-edible section, castor oil drifted by Rs 50 to Rs 9,800-9,900 per quintal on lack of buying support from consuming industries.