Palmolein, soyabean oils fall on sluggish demand

Palmolein and soyabean oil prices drifted by Rs 50 per quintal at the wholesale oils and oilseeds market today on slackened demand amid a weak global trend.
However, other edible and non-edible oils moved in a tight range in scattered deals and settled around previous levels.
Marketmen said subdued demand from retailers and a weak global trend mainly led to the fall in palmolein and soyabean oil prices.
Meanwhile, palm futures fell 0.7 per cent to USD 743 a tonne on the Malaysia Derivatives.
In the national capital, palmolein (rbd) and palmolein (Kandla) oils traded lower by Rs 50 each to Rs 6,250 and Rs 6,050 per quintal, respectively.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) also fell by a similar margin to Rs 6,950 and Rs 6,650 per quintal, respectively.

Following are today's quotations (in Rs per quintal):
Oilseeds: Mustard seed 2,950-3,050 and Groundnut Seed 2,150-2,900.
Vanaspati Ghee (15-litre tin) 1,060-1,290.
Edible oils: Groundnut Mill Delivery (Gujarat) 7,600, Groundnut Solvent Refined (per tin) 1,275-1,350, Mustard expeller (Dadri) 6,950, Mustard Pakki Ghani (per tin) 1,200-1,250, Mustard Kachi Ghani (per tin) 1,250-1,350, sesame mill delivery 9,000, Soyabean Refined Mill Delivery (Indore) 6,950, Soyabean Degum (Kandla) 6,650, Crude Palm Oil (Ex-Kandla) 5,250, Cottonseed Mill Delivery (Haryana) 6,500, Palmolein (RBD) Rs 6,250, Palmolein (Kandla) 6,050 and Coconut (per tin) 2,600-2,680.

Non-edible oils: Linseed 7,750, Castor 9,600-9,700, Neem 5,350-5,450.