Select edible oils slide on muted demand

Select edible oils softened at the wholesale oil and oilseeds market during the week owing to slackened demand from retailers and vanaspati millers against ample stocks position.

However, palmolein oil edged higher on scattered enquiries.

Castor and linseed oils, in the non-edible section, also eased on reduced offtake by consuming industries.

Traders said besides easing demand from retailers and vanaspati millers, adequate stocks position on increased arrivals from producing regions mainly led to decline in select edible oil prices.

In the national capital, groundnut mill delivery (Gujarat) oil fell by Rs 200 to Rs 8,400 per quintal.

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

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) too shed Rs 50 each to Rs 6,750 and Rs 6,350 per quintal, respectively.

On the other hand, palmolein (RBD) and palmolein (Kandla) oils ended higher by Rs 50 each to Rs 5,700 and Rs 5,750 per quintal, respectively.

In the non-edible section, castor oil dropped by Rs 200 to Rs 9,000-9,100 per quintal on reduced industrial offtake.

Linseed oil also finished lower by Rs 100 at Rs 8,700 per quintal on sluggish demand from paint industries. (MORE)

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)