Select edible oils decline on reduced offtake

Select edible oil prices declined up to Rs 20 per quintal on the wholesale oils and oilseeds market today due to reduced offtake at existing higher levels amid a weak global trend. 

However, non-edible oils held steady in restricted buying activity.

Traders said sentiment turned somewhat weak after palm oil dropped the most in more than a year in global market on speculation that China, the biggest cooking-oil user, may slow purchases as prices climbed to the highest level in more than two years. 

Meanwhile, palm oil futures for the January-delivery contract slumped 3.5 per cent to $1,053 a metric tonne, the most since October 2, 2009, on the Malaysia Derivatives Exchange.

In the national capital, soyabean refined mill delivery (Indore) fell by Rs 20 to Rs 5,780, while crude palm oil (ex-kandla) and palmolein (rbd) oils also shed Rs 10 each to Rs 4,840 and Rs 5,640 per quintal.  

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) 815-910

Edible oils: Groundnut mill delivery (Gujarat) 7,100, groundnut Solvent refined (per tin) 1,420-1,430, Mustard Expeller (Dadri) 5,600, Mustard Pakki ghani (per tin) 745-900, Mustard kachi ghani (per tin) 900-1000, Sunflower 6,300, Sesame mill delivery 6,050

soybean Refined mill delivery (Indore) 5,780, Soyabean degum (Delhi) 5,100, Crude Palm Oil (Ex-kandla) 4,840, Cottonseed mill delivery (Haryana) 5,100, Palmolein (RBD) 5,640, Rice bran (phy) 3,750 and Coconut (per tin) 1,200-1,260

Non-edible oils: Linseed 4,300, Mahuwa 4,000, Castor 8,400-8,500, Neem 3,800-3,900, Rice bran 3,300-3,400 and palm fatty 3,225-3,300

Oilcakes: groundnut de-husk 800-850, sesame 950-1,150, Mustard (new) 1,000-1,025, Mustard 1,200-1,210 and Cottonseed 1,075-1,175