Groundnut oil slides on muted demand

In a restricted activity, groundnut oil prices drifted by Rs 200 per quintal at the wholesale oils and oilseeds market today owing to slackened demand from retailers.
However, other edible and non-edible oils moved in a narrow range in scattered deals and settled at previous levels.
Traders said tepid demand from retailers against sufficient stocks position kept pressure on groundnut oil prices.
They said, however, volume of business remained thin due to prevailing cash crunch in the market after government banned Rs 500 and Rs 1,000 currency notes to flush out black money.
In the national capital, groundnut mill delivery (Gujarat) oil dropped by Rs 200 to Rs 10,000 per quintal.

Following are today's quotations (in Rs per quintal):

Oilseeds: Mustard seed Rs 2,950-3,050 and Groundnut seed Rs 2,150-2,900. Vanaspati Ghee (15-litre tin) Rs 800-1,000.
Edible oils: Groundnut Mill Delivery (Gujarat) Rs 10,000,Groundnut Solvent Refined (per tin) Rs 1,700-1,800, Mustard expeller (Dadri) Rs 8,700, Mustard Pakki Ghani (per tin) Rs 1,350-1,395, Mustard Kachi Ghani (per tin) Rs 1,400-1,500, Sesame Mill delivery Rs 8,100, Soybean Refined Mill Delivery (Indore) Rs 6,700, Soybean Degum (Kandla) Rs 6,400, Crude Palm Oil (Ex-Kandla) Rs 4,600, Cottonseed Mill Delivery (Haryana) Rs 6,650, Palmolein (RBD) Rs 5,700, Palmolein (Kandla) Rs 5,750 and Coconut (per tin) Rs 1,750-1,800.

Non-edible oils: Linseed Rs 9,900, Castor Rs 9,700-9,800, Neem Rs 5,350-5,450.