Edible oils extend weakness on low demand, adequate stocks

Press Trust of India  |  New Delhi 

Select edible prices drifted further down at the wholesale and oilseeds market this week owing to slackened demand from millers against ample stocks position on increased supplies.

On the other hand, in the non-edible section went up on the back of pick up in demand from consuming industries.

Traders said besides easing demand from mills and adequate stocks position on increased arrivals from producing regions mainly kept down.

Market remained closed on Wednesday on account of "Bakri Id".

In the national capital, groundnut mill delivery (Gujarat) oil dropped by Rs 400 to Rs 9,200 per quintal. Groundnut solvent refined followed suit and eased by Rs 50 to Rs 1,750-1,850 per tin.

Mustard expeller (Dadri) oil also 50 to Rs 8,250 per quintal.

Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils too finished lower by Rs 50 each to Rs 7,650 and Rs 7,250 per quintal respectively.

Meanwhile, palmolein (rbd) and palmolein (Kandla) oils found some buying support from retailers and finished higher by Rs 50 each to Rs 6,700 and Rs 6,750 per quintal respectively.

In the non-edible section, surged by Rs 300 to Rs 7,500-7,600, while linseed oil held steady at Rs 9,500 per quintal respectively during the period.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, August 25 2018. 11:55 IST