Soyabean, palmolein oils decline on global cues

Soyabean and palmolein oils turned weak and prices moved down by up to Rs 20 per quintal on the wholesale oils and oilseeds market today, owing to slackened demand amid a weak global trend.

Sentiment remained weak after palm oil plunged the most in more than a year in Malaysia on speculation that price control measures announced by China, the world's biggest consumer of cooking oils, may slash import demand.

Meanwhile, palm oil futures for January delivery slumped 4.8 per cent to $994 a tonne, the steepest loss since September 28, 2009, on the Malaysia Derivatives Exchange.

In the national capital, soyabean refined mill delivery (Indore) and soyabean degum (Delhi) lost Rs 20 and Rs 10 to Rs 5,680 and Rs 5,050, respectively, while palmolein (rbd) shed Rs 10 to Rs 5600 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) 925-960

Edible oils: Groundnut mill delivery (Gujarat) 7,100, groundnut Solvent refined (per tin) 1,420-1,430, Mustard Expeller (Dadri) 5,550, Mustard Pakki ghani (per tin) 745-900, Mustard kachi ghani (per tin) 900-1,000, Sunflower 6,300, Sesame mill delivery 6,050

soybean Refined mill delivery (Indore) 5,680, Soyabean degum (Delhi) 5,050, Crude Palm Oil (Ex-kandla) 4,800, Cottonseed mill delivery (Haryana) 5,100, Palmolein (RBD) 5,600, Rice bran (phy) 3,750 and Coconut (per tin) 1,240-1,300

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