Groundnut oil drops on lacklustre trade

Groundnut oil prices dropped in an otherwise lacklustre Vashi oils and oilseeds wholesale market here today following reduced demand from stockists and retailers amid ample stock positions.
While, refined palmolein continued upward trend due to rising demand from retailers.
Meanwhile, castorseed bold, castoroil commercial and linseed oil held stable in absence of any large-scale buying activity.
In the edible section, groundnut oil fell by Rs 40 per 10 kg to Rs 1,400 from Wednesday's closing level of Rs 1,440, but the refined palmolein surged further by Rs 3 per 10kg to Rs 625 as against Rs 622 previously.
Moving to the non-edible segment, castorseeds bold, castoroil commercial and linseed oil closed unchanged at Rs 3,650 per 100 kg, Rs 760 per 10 kg and Rs 1,125 per 10 kg, respectively.