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Tuesday, May 18, 1999

Edible oil prices decline on poor demand 

PRESS TRUST OF INDIA  
NEW DELHI, May 17: Weak conditions prevailed on the oils and oilseeds market today with prices of edible and selective industrial oils declining on poor offtake by millers and stockists. Marketmen said discouraging producing region advices amidst increased arrivals also dampened the sentiments. The volume of business was satisfactory.

Groundnut mill delivery oil prices fell sharply by Rs 100 to Rs 3,800-3,900 per quintal largely due to poor offtake by vanaspati mills. Mustard expeller and cottonseed mill delivery oils also lacked necessary support and dropped to close the day at Rs 3,150 and Rs 3,125 per quintal from Rs 3,200 and Rs 3,180 respectively. Sunflower oil alongwith the general trends also fell sharply from Rs 3,100-3,200 to Rs 2,900-3,000 per quintal.

In the non-edible section linseed oil prices dropped to Rs 3,200-3,250 from Rs 3,280-3,380 on poor industrial demand. The following were today's quotations per quintal: Mustard seed 1,400-1,500, cottonseed 1,100-1,200, groundnut 1,440-1,790 andsesame 3,000-3,200. Vanaspati ghee (15 kg tin) 630-680. Edible oils: Groundnut mill delivery 3,800-3,900, groundnut solvent refined (per tin) 675-750 and mustard expeller 3,150.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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