India Edible Oil: Down; mustard ends lower on lukewarm spot demand

Futures contracts of all components of the edible oil basket declined on the domestic exchanges.Shrugging off gains from the previous session, April contract of mustard settled 0.6% lower on the National Commodity and Derivatives Exchange owing to tepid buying from oil millers. However, looming fears of a small crop this year due to adverse weather conditions restricted any sharp fall. Soybean on the NCDEX also closed 0.6% lower in line with weakness in the bellwether contracts on the Chicago Board of Trade. Refined soyoil on the NCDEX, and crude palm oil on the Multi Commodity Exchange of India, both traded 0.6% lower due to lacklustre demand at higher prices in the wholesale markets