Refined palmolein eases on poor offtake

Prices of refined palmolein eased in an otherwise lacklustre oils and oilseeds market here today due to lack of buying support from retailers.

Castorseeds futures also declined on poor export enquiries. 

Meanwhile, groundnut oil, castorseeds bold, castoroil commercial and linseed oil all closed stable in absence of necessary buying support.

In the edible oil segment, refined palmolein softened by Rs 2 per 10 kg to Rs 560 from yesterday's closing level of Rs 562. Groundnut oil, however, closed unchanged at Rs 765 per 10 kg. 

Turning to futures section, castorseeds March delivery resumed lower at Rs 3,480 and drifted further to close at Rs 3,450 from overnight closing level of Rs 3,515, showing a sharp fall of Rs 65 per tonne. 

However, castorseeds bold, castoroil commercial and linseed oil were unaltered at Rs 4,350, Rs 900 and Rs 630, respectively.