19/10/2011 (MSN) - Select edible oil prices fell up to Rs 50 per quintal on the wholesale oils and oilseeds market today owing to slackness in demand at prevailing levels amid weakening global trend.

However, non-edible oils moved in a tight range in limited deals and settled around previous levels.

The trading sentiment turned bearish after palm oil declined in global markets on speculation that stockpiles may have increased in Malaysia, the second-largest producer, after exports fell last month.

Meanwhile, palm oil futures for February delivery dropped by 0.8 per cent to USD 970 a tonne on the Malaysia Derivatives Exchange.

In addition, sluggish demand at prevailing higher levels further dampened the trading sentiment.

In the national capital, mustard expeller (Dadri), sesame and cottonseed mill delivery (Haryana) oils were traded lower by Rs 50 each to Rs 6,820, Rs 6,600 and Rs 6,150 per quintal, respectively on slackened demand.

Tracking a weakening global trend, palmolein (rbd) and palmolein (Kandla) oils lost by Rs 50 each to Rs 6,650 and Rs 6,300, while crude palm oil (ex-kandla) traded lower by the same margin to Rs 6,050 per quintal, respectively.