Groundnut oil drops on higher arrivals, palmolein firms up

The edible oils witnessed a mixed trend at the oils and oilseeds wholesale market here today, as prices of groundnut oil dropped due to reduced stockists offtake as well as lower domestic demand.
On the other hand, refined palmolein firmed up on good retail buying support amid higher global advices, where palm oil climbed to a 17-month high on speculation over production shortage.
However, castorseeds bold and castoroil commercial moved down marginally owing to lack of buying interest from shippers and soap manufacturers.
Linseed oil closed stable in the absence of any worthwhile buying from paint and allied industries.
Turning to edible oil section, groundnutoil declined by Rs 10 per 10 kg to Rs 750 from Tuesday's closing level of Rs 760, while refined plamoile edged up by Rs 7 per 10 kg to Rs 605 as compared to Rs 598.

Moving to non-edible segment, castorseeds bold slipped by Rs 10 per 100 kg to Rs 3,915 as against Rs 3,925 and castoroil commercial softened by Rs 2 per 10 kg to Rs 813 from Rs 815 previously. Linseed closed unaltered at Rs 835 per 10 kg.