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Select edible oils decline on sluggish demand

Traders said easing demand from vanaspati millers and retailers at existing levels against sufficient stocks position in the market on increased supplies from producing belts mainly led to the fall in select edible oil prices.

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The wholesale oil and oilseed market displayed a weak trend during the week as prices of select edible oils drifted owing to slackened demand at prevailing levels against adequate stocks position.

However, linseed oil in the non-edible section, moved up on increased demand from paint and other consuming industries.

Traders said easing demand from vanaspati millers and retailers at existing levels against sufficient stocks position in the market on increased supplies from producing belts mainly led to the fall in select edible oil prices.

In the national capital, groundnut mill delivery (Gujarat) and mustard expeller (Dadri) oils fell by Rs 50 and Rs 100 to Rs 8,700 and Rs 7,050 per quintal, respectively.

Mustard pakki and kachi ghani oils edged lower by Rs 20 each to Rs 1,200-1,250 and Rs 1,250-1,350 per tin, respectively.

Cottonseed mill delivery (Haryana) oil after remained steady for the major part of week on some support, met with increased selling towards the close and finished lower by Rs 50 to Rs 5,550 per quintal.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils declined by Rs 50 each to Rs 6,650 and Rs 6,350 per quintal, respectively.

Palmolein (RBD and palmolein (Kandla) oils followed suit and drifted by Rs 100 each to Rs 5,600 and Rs 5,500 per quintal, while crude palm oil (ex-Kandla) ended flat at Rs 4,300 per quintal.

On the other hand, sesame mill delivery oil finished higher by Rs 100 to Rs 8,000 per quintal.

In the non-edible section, linseed oil attracted fresh buying support from paint industries and settled higher by Rs 50 to Rs 8,300 per quintal. 

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