Soybean and Palmolein Oils Slide on Sluggish Demand (Jan 04, 2018)

Prices of palmolein and soybean oil drifted lower by Rs 50 per quintal at the wholesale oils and oilseeds market owing to slackened demand.

However, other edible and non-edible oils moved in a narrow range in limited deals and settled at last levels.

Traders said subdued demand from retailers mainly weighed on palmolein and soybean oil prices.

In the national capital, palmolein (RBD) and palmolein (Kandla) oils were down by Rs 50 each to Rs 6,200 and Rs 6,250 per quintal respectively.

Soybean refined mill delivery (Indore) and soybean degum (Kandla) followed suit and traded lower by a similar margin to Rs 7,350 and Rs 6,950 per quintal respectively.

Following are quotations (in Rs per quintal):

Oilseeds: Mustard seed Rs 2,950-3,050 and Groundnut seed Rs 2,150-2,900. Vanaspati Ghee (15-litre tin) Rs 800- 1,000.

Edible oils: Groundnut Mill Delivery (Gujarat) Rs 9,600, Groundnut Solvent Refined (per tin) Rs 1,675-1,775, Mustard expeller (Dadri) Rs 7,950, Mustard Pakki Ghani (per tin) Rs 1,300-1,345, Mustard Kachi Ghani (per tin) Rs 1,350-1,450, Sesame Mill delivery Rs 8,500, Soybean Refined Mill Delivery (Indore) Rs 7,350, Soybean Degum (Kandla) Rs 6,950, Crude Palm Oil (Ex-Kandla) Rs 5,000, Cottonseed Mill Delivey (Haryana) Rs 6,600, Palmolein (RBD) Rs 6,200, Palmolein (Kandla) Rs 6,250 and Coconut (per tin) Rs 2,750-2,800.

Non-edible oils: Linseed Rs 8,800, Castor Rs 8,500- 8,600, Neem Rs 5,350-5,450.

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