Select edible oils down on global cues, slacken demand

Select edible oil prices fell up to Rs 50 per quintal on the wholesale oils and oilseeds market today largely in tandem with a weakening trend overseas on record inventories and fall in demand from millers and retailers.

Marketmen said trading sentiments dampened after on reports of record stockpiles of palm oil in Malaysia, world's second largest producer.

Meanwhile, palm oil for February delivery fell by 0.40 per cent to 2,288 ringgit (USD 749) per tonne on the Malaysian Derivatives Exchange.

In the national capital, palmolein (Rbd) and palmolein (Kandla) oils fell by Rs 50 each at Rs 7,150 and 6,650 per quintal, respectively.

Mustard expeller oil (Dadri) shed Rs 20 at Rs 8,330 per quintal, while soyabean refined mill delivery oil (indore) shed Rs 20 at Rs 7,120 per quintal.

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) 1,900-1,950, Mustard expeller (Dadri) 8,330, Mustard Pakki Ghani (per tin) 1,240-1,380, Mustard Kachi Ghani (per tin) 1,395-1,495, Sunflower 6,300, Sesame Mill Delivery 8,750, Soybean Refined Mill Delivery (Indore) 7,120, Soyabean Degum (Kandla) 6,700, Crude Palm Oil (Ex- Kandla) 7,100, Cottonseed Mill Delivery (Haryana) 6,850, Palmolein (RBD) Rs 7,150, Palmolein (Kandla) 6,650, Rice Bran (phy) 3,800 and Coconut (per tin) 1,350- 1,400.

Non-edible oils: Linseed 5,900, Mahuwa 4,000, Castor 8,700-8,800, Neem 4,650-4,750, 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.

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