Edible oil prices fell sharply on the wholesale oils and oilseeds market today on increased selling by stockists amid strengthening rupee.
Besides, fall in demand due to rising mercury too weighed on the prices.
Linseed oil in the non-edible section also eased on reduced offtake by industrial units.
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Traders said apart from increased stockists selling, appreciating rupee against the dollar, making imports of edible oils cheaper also influenced the trading sentiments.
In the national capital, groundnut mill delivery (Gujarat) fell by Rs 200 to Rs 7,200 per quintal. Groundnut solvent refined followed suit and declined by Rs 50 to Rs 1,850-1,900 per tin.
In line with overall trend, mustard expeller (Dadri) oil eased by Rs 300 to Rs 7,000 per quintal. Mustard pakki and kachi ghani oils were also under pressure and traded lower at Rs 1,100-1,150 and Rs 1,150-1,250 against last close of Rs 1,290-1,370 and Rs 1,375-1,475 per tin respectively.
Cottonseed mill delivery (Haryana) dropped to Rs 6,200 from Rs 6,425 per quintal.
Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils fell to Rs 7,000 and Rs 6,700 against last close of Rs 7,500 and Rs 7,300 per quintal, respectively.
Palmolein (rbd) and Palmolein (Kandla) oils drifted to Rs 6,400 and Rs 6,150 against last close of Rs 6,900 and Rs 6,550 per quintal respectively.
However, coconut oil traded higher at RS 2,500-2,550 per tin.
Among non-edible, linseed oil declined by Rs 50 to Rs 7,400 per quintal.
