Edible oils got cheaper last week on better availability | business | Hindustan Times
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Edible oils got cheaper last week on better availability

business Updated: Jan 17, 2009 13:29 IST

PTI
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Edible oils, which had been rising in the past two weeks, fell to close in the negative zone in the national capital during the week under review on increased supplies after the truckers was called off.

Higher import of edible oils and reduced demand from vanaspati units also put pressure on the prices.

In Delhi, soyabean refined mill delivery and soyabean degum (Delhi) moved down by Rs 100 each to Rs 5,200 and Rs 5,000 per quintal respectively,while crude palm oil (ex-kandla) lost Rs 150 to Rs 2,800 per quintal.

However, groundnut and mustard expeller oil met with increased buying support at the fag-end of the week to close higher.

Sentiment turned somewhat weak on pick-up in supplies in the wholesale markets after truckers called off the eight-day-long nationwide strike on Monday.

Traders said apart from increased arrivals, reports of higher imports of the edible oil and state-run trading firm PEC inviting bids for the sale of 2,000 tonnes of imported edible oils also attributed decline in the prices.