24/06/2008 (The Economic Times), New Delhi - Wholesale prices of select edible oils fell for the second straight day today in the national capital due to slow down in demand from vanaspati and retail units, even as palm oil prices rose in the global market.

Groundnut mill delivery oil prices fell by Rs 80 at Rs 7,150 per quintal, while mustard expeller oil lost Rs 160 at Rs 6,900 per quintal.

Traders blamed the drying up of demand at to the prevailing high prices.

Meanwhile, palm oil futures in Malaysia rose for the second day, tracking its main substitute soybean oil on the outlook for tighter supplies of vegetable oils following floods in the US and farmers' protests in Argentina over export taxes.

Palm oil for September delivery rose 12 ringgit, or 0.3 per cent, to 3,570 ringgit (1,093 US dollar) a metric ton on the Malaysia Derivatives Exchange, the global benchmark.

Palmoline (RBD) and crude palm oils shed Rs 20 each at Rs 6,400 and Rs 5,150 per quintal respectively.