Edible oils fall on subdued demand

Refined palmolein dropped in an otherwise sluggish oils and oilseeds market here today on reduced stockists demand amidst lower Malaysian advices.

Groundnut oil also moved down due to good supplies.

Meanwhile, castorseed bold, castor oil commercial and linseed oil maintained a stable trend in the absence of market moving factors.

Castorseed futures market rallied owing good buying by stockists on the back of persistent export enquiries. 

In edible-oil segment, refined palmolein fell by Rs 10 per 10 kg to Rs 585 from yesterday's closing level of Rs 595. Groundnut oil slipped by Rs 5 per 10 kgs to Rs 770 as against Rs 775 yesterday.

Turning to futures section, castorseeds for March delivery resumed higher at Rs 3,740 and rose further to close at Rs 3,785 compared with Rs 3,709 previously, showing a smart gain of Rs 76 per tonne.

However, castorseed bold, castoroil commercial and linseed oil all continued to remain unaltered at Rs 4,450, Rs 920 and Rs 700 respectively.