Oil prices decline due to softening of global markets

New Delhi: prices of mustard oil fell in the Delhi wholesale commodity market last week when domestic demand in the global markets softened. Other edible oils have been in a torientation. The price of sugar also decreased while jaggery and wheat were seen to be strong and pulses fluctuated. Edible oils were declining in foreign markets during the week under review.

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At the moment such is the market sentiment

According to the information, the August Palm oil futures 42 at 2027 Rigitt per tonne at Malaysia's Bursa Malaysia derivatives exchange. July's U.S. soy oil futures also uttered 27.32 cents per pound over the weekend in weekly declines of 0.39 cents. Mustard oil declined by RS 73 per kunatal in the local market during the Alochya week. Groundnut oil, sunflower oil, soya oil, palm oil and vegetable oils have been in a torientation.

 

With this, on weekends, mustard oil 10,476, groundnut oil 13,773, sunflower 10,549, soya refined 9,597, palm oil 7,326, vegetable rs 8,059 per kunatal. In the sweet market, sugar was softening during the Alochya week. With the incoming good, it slipped to Rs 30 per kunatal.

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