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Journalism of Courage
Snapping a two-week rising streak,edible oil prices drifted at the wholesale oils and oilseeds market during the past week due to reduced offtake by millers and retailers at existing higher levels.
Weakening trend in palm oil,which slipped from 34-month high at the Malaysian markets,also put some pressure on the edible oil prices here.
Meanwhile,palm oil prices fell 2.2 this week,the most since the week ended December 17.
Besides,weakening trend in Malaysia,reduced offtake by vanaspati millers and retailers at existing higher levels led to decline in edible oil prices,traders said.
In the national capital,groundnut mill delivery oil (Gujarat) fell by Rs 200 to Rs 7400 per quintal and groundnut solvent refined lost Rs 25 to Rs 1425-1435 per tin.
