Monday, November 29, 1999

Select edible oils decline amid lower global trend

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New Delhi, July 6 (PTI) Wholesale prices of select edible oils fell by Rs 20 per quintal at the oils and oilseeds market in the national capital today owing to slackness in demand amid a weakening trend in overseas markets. On the other hand, non-edible oils continued to trade at around their previous levels in the absence of activity. The sentiment turned bearish after palm oil declined to its lowest level in more than seven months in Malaysia, following a fall in crude oil for the sixth day, which cooled demand for the commodity used in bio-diesel. Meanwhile, palm oil for September delivery lost 0.6 per cent to USD 724 a metric tonne, the lowest since November 13, on the Malaysia Derivatives Exchange. Marketmen said beside the weakening global trend, a fall in demand at existing higher levels also put some pressure on select wholesale edible oil prices. In the edible section, soyabean refined mill delivery (Indore) and soyabean degum (Delhi) oils fell by Rs 20 each to Rs 4,380 and Rs 4,280, while palmolein (rbd) and crude palm oil (ex-Kandla) were being traded lower by a similar margin at Rs 4,100 and Rs 3,620 per quintal. The following are today''s quotations in Rs per quintal: Oilseeds: Mustard seed 2,500-2,600 and groundnut seed 2,100-2,850. Vanaspati ghee (15 litres tin) 720-830. Edible oils: Groundnut mill delivery (Gujarat) 7,500, groundnut Solvent refined (per tin) 1,250-1,260, Mustard Expeller (Dadri) 4,920, Mustard Pakki ghani (per tin) 685-840, Mustard kachi ghani (per tin) 840-940, Sunflower 6,300, Sesame mill delivery 5,850, Soybean Refined mill delivery (Indore) 4,380 Soyabean degum (Delhi) 4,280, Crude Palm Oil (ex-Kandla) 3,620, Cottonseed mill delivery (Haryana) 4,150, Palmolein (RBD) 4,100, Rice bran (phy) 3,750 and Coconut (per tin) 1020-1050. Non-edible oils: Linseed 4,000, Mahuwa 4,000, Castor 7,200-7,300, Neem 3,700-3,800, Rice bran 3,200-3,300 and palm fatty 3,225-3,300. Oilcakes: Groundnut de-husk 800-850, sesame 950-1,150, Mustard (new) 1,025-1,050, Mustard 1,200-1,210 and Cottonseed 1,075-1,175.

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