Palmolein Oil Declines on Subdued Demand, Global Cues
21/12/2011 (MSN) - Palmolein oil prices fell by Rs 20 per quintal on the wholesale oils and oilseeds market today, due to slackness in demand amid weakening global trend.
Other edible and non-edible oils, however, continued to trade at previous levels in the absence of worthwhile activity.
Traders said subdued demand at prevailing higher levels amid weakening global trend mainly led to fall in palmolein oil prices.
Meanwhile, palm oil for March contract declined 0.6 per cent to USD 941 per tonne on the Malaysia Derivatives Exchange.
In the national capital, palmolein (rbd) and palmolein (Kandla) oils declined by Rs 20 each to Rs 6,780 and Rs 6,430 per quintal, respectively.
The following were today''s quotations per quintal: Oilseeds: Mustard Seed 2,550-2,680 and Groundnut Seed 2,125-2,875.
Vanaspati Ghee (15-litre tin) 1,030-1,090.
Edible oils: Groundnut Mill Delivery (Gujarat) 9,000, Groundnut Solvent Refined (per tin) 1,580-1,590, Mustard Expeller (Dadri) 7,300, Mustard Pakki Ghani (per tin) 955-1,110, Mustard Kachi Ghani (per tin) 1,110-1,210, Sunflower 6,300, Sesame Mill Delivery 6,950, Soybean Refined Mill Delivery (Indore) 6,930, Soyabean Degum (Kandla) 6,500, Crude Palm Oil (Ex-Kandla) 6,450, Cottonseed Mill Delivery (Haryana) 6,400, Palmolein (RBD) Rs 6,780, Palmolein (Kandla) 6,430, Rice Bran (phy) 3,800 and Coconut (per tin) 1,775-1,825.
Non-edible oils: Linseed 4,650, Mahuwa 4,000, Castor 8,350-8,450, Neem 4,000-4,100, Rice Bran 3,300-3,400 and Palm Fatty 3,225-3,300.
Oilcakes: Groundnut Dehusk 800-850, Sesame 950-1,150, Mustard (New) 1,000-1,025, Mustard 1,200-1,210 and Cottonseed 1,075-1,175.