Friday, Oct 07, 2022

Select edible oils remain weak on sluggish demand

Select edible oil prices continued to slide by Rs 50 per quintal in the wholesale oils and oilseeds market.

Select edible oil prices continued to slide by Rs 50 per quintal in the wholesale oils and oilseeds market today on stockists selling due to sluggish demand amid a weakening global trend.

However,non-edible oils moved in a narrow range in limited deals and settled around previous levels.

Sentiment remained bearish after palm oil dropped in global markets on speculation that stockpiles in Malaysia,the largest producer after Indonesia,may increase amid a seasonal gain in output.

Meanwhile,palm oil for the November-delivery fell 0.6 per cent to USD 945 a tonne on the Malaysia Derivatives Exchange.

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In the edible section,tracking a weakening global trend,soyabean refined (Indore) and soyabean degum (Kandla) oils fell further by Rs 50 each to Rs 7,750 and Rs 7,350 per quintal,respectively.

Palmolein (rbd) and palmolein (kandla) oils followed suit and shed Rs 50 each at Rs 7,850 and Rs 7,400 per quintal,respectively.

The following were today’s quotations per quintal: Oilseeds: Mustardseed 2,950- 3,050 and Groundnut Seed 2,150-2,900. Vanaspati Ghee (15-litre tin) 1,100-1,250. Edible oils: Groundnut Mill Delivery (Gujarat) 12,000,Groundnut Solvent Refined (per tin) 1,950-2,000,Mustard expeller (Dadri) 8,400,Mustard Pakki Ghani (per tin) 1,210-1,350,Mustard Kachi Ghani (per tin) 1,365-1,465,Sunflower 6,300,Sesame Mill Delivery 8,650,Soybean Refined Mill Delivery (Indore) 7,750,Soyabean Degum (Kandla) 7,350,Crude Palm Oil (Ex-Kandla) 7,450,Cottonseed Mill Delivery (Haryana) 7,200,Palmolein (RBD) Rs 7,850,Palmolein (Kandla) 7,400,Rice Bran (phy) 3,800 and Coconut(per tin) 1,400-1,450.

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Non-edible oils: Linseed 5,750,Mahuwa 4,000,Castor 8,650-8,750,Neem 4,600- 4,700,Rice Bran 3,280-3,380 and Palm Fatty 3,225-3,300.

Oilcakes: Groundnut Dehusk 800-850,Sesame 950-1,150,Mustard (New) 1,000- 1,025,Mustard 1,200-1,210 and Cottonseed 1,075-1,175.

First published on: 13-09-2012 at 04:07:37 pm
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