Palmoline (RBD) oil prices were down by Rs 50 at Rs 5,800 per quintal. Traders said reports that palm oil futures in Malaysia dropped on concern that two weeks of gain may slow government policies for its use as alternative energy, curbing demand growth.
Palm oil for August delivery dropped 31 ringgit to 3536 ringgit a tonne on the Malaysian Derivatives Exchange.
"Weakening trends in global markets and measures taken by the government, helped prices to decline," said a wholesale oil trader here.
Soyabean refined mill delivery oil prices decreased by Rs 150 to Rs 6,250 per quintal while soyabean degum (Delhi) traded Rs 100 down at Rs 6,150 a quintal.
Sesame mill delivery oil prices plunged Rs 200 at Rs 6,500 a quintal. Mustard expeller oil prices were down by Rs 80 at Rs 6,070 per quintal while cottonseed mill delivery oil shed Rs 30 at Rs 5,720 a quintal.
