Groundnut, palmolein oil drop on muted demand

Prices of groundnut and palmolein oil plunged by up to Rs 400 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 tight range in limited deals and settled at previous levels.
Traders said easing demand from retailers against ample stocks position on increased supplies from producing regions, mainly led to decline in groundnut and palmolein oil prices.
In the national capital, groundnut mill delivery (Gujarat) oil remained weak and lost another Rs 400 to Rs 11,000 per quintal. Groundnut solvent refined followed suit and traded lower at Rs 1,700-1,800 from previous level of Rs 1,900-1,950 per tin.

Palmolein (rbd) and palmolein (Kandla) oils also eased by Rs 50 each to Rs 5,800 and Rs 5,850 per quintal, respectively.
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 11,000,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 6,650, Soybean Degum (Kandla) Rs 6,350, Crude Palm Oil (Ex-Kandla) Rs 4,600, Cottonseed Mill Delivery (Haryana) Rs 6,650, Palmolein (RBD) Rs 5,800, Palmolein (Kandla) Rs 5,850 and Coconut (per tin) Rs 1,750-1,800.

Non-edible oils: Linseed Rs 9,900, Castor Rs 9,750-9,850, Neem Rs 5,350-5,450.