Amid a weakening global trend and sluggish demand at existing higher levels, edible oil prices extended losses in the oils and oilseeds market during the week under review.

Linseed oil in the non-edible section also showed some weakness on lack of demand from the paint industries.

Sentiment in select edible oils remained bearish after palm oil fell the most in more than five weeks in global markets as commodities slumped on concern that the US economic recovery may stall and stockpiles climbed.

Palm oil stockpiles in Malaysia, the second-largest grower, climbed 47 per cent to 2.07 million tonnes in July, the highest level since December 2009.

Meanwhile, palm oil futures fell 1.5 per cent this week on the Malaysia Derivatives Exchange.

In the national capital, sesame and cottonseed mill delivery (Haryana) oils declined by Rs 30 each to Rs 6,200 and Rs 5,530 per quintal, respectively. Mustard expeller oil lost Rs 20 to Rs 5,980 a quintal.

Taking cues from overseas markets, palmolein (rbd) oil shed Rs 30 and palmolein (Kandla) oil fell by Rs 50 to Rs 5,850 and Rs 5,550, respectively, while crude palm oil (ex-Kandla) shed Rs 10 to Rs 5,200 a quintal. Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils also declined by Rs 20 each to Rs 6,430 and Rs 5,930 a quintal, respectively.

In the non-edible section, linseed oil declined by Rs 50 to Rs 4,500 a quintal.

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