New Delhi, May 20: Mixed conditions continued unabated for the second straight week at the wholesale oils and oilseeds market as prices of select edible oils eased further owing to fall in demand against adequate stock position. A few others, however, edged up on scattered demand from retailers. Linseed and castor oils, in the non-edible section, ended lower on reduced offtake by consuming industries.
Traders said easing demand from vanaspati millers against adequate stocks position on increased arrivals from producing belts kept pressure on select edible oil prices, but mild demand from retailers helped a few others end marginally up. Meanwhile, palm oil import rose 2.25 percent to 7,52,632 tonnes in April on higher shipment of crude palm oil (CPO), industry body Solvent Extractors Association (SEA) said.
India, the world’s leading vegetable oil buyer, had imported 7,36,036 tonnes palm oil in April 2016. In the national capital, groundnut mill delivery (Gujarat) oil declined by Rs 100 to Rs 10,200 per quintal. Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) also fell by Rs 100 and Rs 50 to Rs 6,500 and Rs 6,100 per quintal, respectively.
On the other hand, mustard expeller (Dadri) oil edged up by Rs 50 to Rs 8,000 per quintal. Palmolein (RBD) and palmolein (Kandla) oils moved up by Rs 50 each to Rs 5,650 and Rs 5,700 per quintal respectively. In the non-edible section, linseed oil dropped by Rs 200 to Rs 9,300 per quintal on muted demand from paint industries. Castor oil shed Rs 50 to Rs 9,400-9,500 per quintal.
This is published unedited from the PTI feed.