Groundnut, mustard oil slide on sluggish demand

Prices of groundnut and mustard oil drifted lower by up to Rs 100 per quintal at the wholesale oils and oilseeds market Saturday following subdued demand from retailers coupled with adequate stocks position.

By: PTI | New Delhi | Published:October 1, 2016 2:30 pm
Mustard oil, Mustard oil prices, wholesale oils and oilseeds market, non-edible oils, other edible and non-edible oils, mustard expeller (Dadri)oil, Oil prices, oil Pirices and market, latest news, India news Representational Image (File Photo)

Prices of groundnut and mustard oil drifted lower by up to Rs 100 per quintal at the wholesale oils and oilseeds market Saturday following subdued demand from retailers coupled with adequate stocks position.

However, non-edible oils held steady in thin trade. Traders said muted demand from retailers against sufficient stocks position on increased supplies from producing regions, mainly led to decline in groundnut and mustard oil prices.

In the national capital, groundnut mill delivery (Gujarat) oil fell further by Rs 100 to Rs 12,300 per quintal. Groundnut solvent refined followed suit and shed Rs 50 to Rs 1,900-1,950 per tin.

Mustard expeller oil also fell by Rs 100 to Rs 8,800 per quintal. Mustard pakki and kachi ghani oils too traded lower by 50 each to Rs 1,350-1,395 and Rs 1,400-1,500 per tin, respectively.

Following are Saturday’s 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 12,300, Groundnut Solvent Refined (per tin) Rs 1,900-1,950, Mustard expeller (Dadri) Rs 8,800, Mustard Pakki Ghani (per tin) Rs 1,350-1,395, Mustard Kachi Ghani (per tin) Rs 1,400-1,500, Sesame Mill delivery Rs 7,900, Soybean Refined Mill Delivery (Indore) Rs 6,850, Soybean Degum (Kandla) Rs 6,550, Crude Palm Oil (Ex-Kandla) Rs 4,550, Cottonseed Mill Delivery (Haryana) Rs 6,500, Palmolein (RBD) Rs 6,200, Palmolein (Kandla) Rs 6,250 and Coconut (per tin) Rs 1,700-1,750.

Non-edible oils: Linseed Rs 9,700, Castor Rs 9,750-9,850, Neem Rs 5,350-5,450.