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Palmolein oil fall on global cues

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Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 8:04 PM IST

Palmolein oil prices fell by Rs 20 per quintal in thin trade in the oils and oilseeds market today, largely due to a weakening trend in overseas markets.

Elsewhere, other edible and non-edible oils continued to move in a tight range on scattered deals and settled around previous levels.

Trading sentiments remained bearish as palm oil declined for second consecutive day in global market on concern that increasing supplies will weaken prices and as Japan's nuclear crisis threatened its economy pushing commodity prices lower.

Meanwhile, palm oil futures for delivery in June fell by 1.9% to $1,078 a metric tonne on the Malaysian Derivatives Exchange.

Traders said besides fall in demand at prevailing levels, reports of a weak trend in overseas market also kept pressure on palmolein oil prices.

In the national capital, palmolein (rbd) and palmolein (kandla) oils fell by Rs 20 each to Rs 5,730 and Rs 5,480 per quintal, respectively.

Following are today's quotations in Rs per quintal:

Oilseeds: mustard seed 2,525-2,655 and groundnut seed 2,100-2,850.

Vanaspati ghee (15 litres tin) 1,065-1,140.

Edible oils: Groundnut mill delivery (Gujarat) 7,400, groundnut Solvent refined (per tin) 1,300-1,310, Mustard Expeller (Dadri) 5,850, Mustard Pakki ghani (per tin) 765-920, Mustard kachi ghani (per tin) 920-1,020, Sunflower 6,300, Sesame mill delivery 6,350, soybean Refined mill delivery (Indore) 6,050, Soyabean degum (Kandla) 5,750, Crude Palm Oil (Ex-kandla) 5,200, Cottonseed mill delivery (Haryana) 5,650, Palmolein (RBD)Rs 5,730 Palmolein (Kandla) 5,480, Rice bran (phy) 3,750 and Coconut (per tin) 1,500-1,560.

Non-edible oils: Linseed 4,600, Mahuwa 4,000, Castor 8,650-8,750, Neem 4,000-4,100, Rice bran 3,300-3,400 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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First Published: Mar 17 2011 | 2:41 PM IST

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