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Business News » India News

Select edible oils remain weak on muted demand

Castor oil, in the non-edible section, slipped on reduced offtake by consuming industries

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Select edible oils remain weak on muted demand
Globally, the benchmark palm oil contract for April delivery was trading down at 2,476 ringgit ($626.20) a tonne on the Bursa Malaysia Derivatives Exchange
Written By: PTI
Updated: Sat, Jan 20, 2018
12:55 pm
PTI
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Select edible oil prices drifted further lower at the wholesale oil and oilseeds market during the week owing to slackened demand from vanaspati millers and retailers against ample stocks position on increased supplies.

Castor oil in the non-edible section, also slipped on reduced offtake by consuming industries.

Traders said besides subdued demand from vanaspati millers and retailers, adequate stocks position on increased arrivals from producing regions and a weak trend overseas mainly kept pressure on select edible oil prices.

Globally, the benchmark palm oil contract for April delivery was trading down at 2,476 ringgit (USD 626.20) a tonne on the Bursa Malaysia Derivatives Exchange.

In the national capital, groundnut mill delivery (Gujarat) oil fell by Rs 100 to Rs 9,400 per quintal.

Mustard expeller (Dadri) also eased by Rs 50 to Rs 7,900 per quintal.

Tracking a weak trend overseas, palmolein (rbd) and palmolein (Kandla) oils too lost Rs 100 each to Rs 6,150 and Rs 6,200 per quintal, respectively.

In the non-edible section, castor oil dropped by Rs 300 to Rs 7,900-8,000 per quintal. 

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TAGS:
Edible Oil Pricesoilseeds marketCastor oil
RELATED NEWS
Edible oils extend weakness on low demand, adequate stocks Edible oils extend weakness on low demand, adequate stocks
Select edible oils remain up on rising demand Select edible oils remain up on rising demand
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