ET:Edible oils remain weak on global cues, subdued demand
NEW DELHI: Amid weak trend in the global markets and subdued local demand, select edible oils continued their downard journey as prices fell by up to Rs 30 per quintal in the wholesale oils and oilseeds market today.
Linseed oil, in the non-edible oils segment, however, strengthened on industrial demand.
Traders said sentiment in edible oils continued to remain subdued in tandem with a weak trend in the global markets and slackened local demand.
Meanwhile, crude palm oil fell 1.8 per cent to USD 819 a tonne on the Malaysia Derivatives Exchange, a major supplier of oil to the world markets.
In the national capital, Crude palm oil (ex-kandla) traded lower by Rs 30 to Rs 7,220 per quintal, while Palmolein (rbd) and palmolein (Kandla) oils shed Rs 20 each at Rs 7,630 and Rs 7,180 per quintal, respectively.
Mustard expeller (Dadri) and cottonseed mill delivery oil (Haryana) were down by Rs 20 each to Rs 8,280 and Rs 7,130 per quintal respectively.
