Advertisemen
Decrease in select edible oil prices due to weak demand and adequate stock
 |
| Decrease in select edible oil prices due to weak demand and adequate stock |
Business
Due to the poor demand of retailers and vegetable mills, due to excessive supply of productive areas in the market, the prices of selected edible oils declined in the national capital, Delhi's wholesale oil and oilseeds market last week. Due to the decrease in the price, some oil prices also declined in non-edible oil segment.
Market sources said apart from decreasing the demand of retailers and vegetable mills, there was a pressure on the edible oil prices mainly due to adequate stock accumulation due to increased supply from producing areas. Prices due to imports due to the rupee depreciated against the dollar also kept prices under pressure. The rupee closed at two-year high of 63.58 per dollar against the dollar in the foreign exchange market.
In the national capital, groundnut mill delivery (Gujarat) oil price fell by Rs 200 to Rs 8,700 per quintal. The price of groundnut salvat refined also declined to 1,600 .. 1,700 rupees per tin, which was previously closed at 1,700 .. 1,800 rupees per tin.
Sesame mill delivery oil price fell by Rs 200 to Rs 7,800 per quintal, while Binola mill delivery (Haryana) and mustard expeller (Dadri) oil price was 50. 50 rupees declined with Rs 6,350 and 7,700 respectively Rupees per quintal remained.
Prices of Palmoline (RBD) and Palmolein (Kandla) oil also fell to Rs. 5,250 and Rs. 5300 per quintal, with a fall of 50 rupees. Due to the sluggish demand of paint industries in the non-edible oil segment, the price of linseed oil dropped by Rs 100 to Rs 8,800 per quintal. Due to the weak industrial demand, castor oil prices fell by Rs 50 to Rs 8,950 ... Rs 9,050 per quintal.