Palmolein oils weaken on subdued demand

Palmolein oil prices declined by Rs 50 per quintal in an otherwise steady wholesale oils and oilseeds market today on sluggish demand.

However, castor oil in the non-edible section, traded higher on increased offtake by consuming industries.

Traders said muted demand from retailers against adequate stocks position mainly weighed on palmolein oil prices.

In the national capital, palmolein (RBD) and palmolein (Kandla) oils were down by Rs 50 each to Rs 6,350 and Rs 6,400 per quintal respectively.

On the other hand, in the non-edible section, castor oil edged up by Rs 100 to Rs 8,700-8,800 per quintal.

Following are today's quotations (in Rs per quintal):
 

Oilseeds: Mustard seed Rs 2,950-3,050 and Groundnut seed Rs 2,150-2,900. Vanaspati Ghee (15-litre tin) Rs 800-1,000.

Edible oils: Groundnut Mill Delivery (Gujarat) Rs 9,300, Groundnut Solvent Refined (per tin) Rs 1,650-1,750, Mustard expeller (Dadri) Rs 7,950, Mustard Pakki Ghani (per tin) Rs 1,300-1,345, Mustard Kachi Ghani (per tin) Rs 1,350-1,450, Sesame Mill delivery Rs 8,500, Soybean Refined Mill Delivery (Indore) Rs 7,400, Soybean Degum (Kandla) Rs 7,000, Crude Palm Oil (Ex-Kandla) Rs 5,000, Cottonseed Mill Delivey (Haryana) Rs 6,600, Palmolein (RBD) Rs 6,350, Palmolein (Kandla) Rs 6,400 and Coconut (per tin) Rs 2,750-2,800.

Non-edible oils: Linseed Rs 8,800, Castor Rs 8,700-8,800, Neem Rs 5,350-5,450.