Groundnut oil falls on lower demand

Groundnut oil prices fell at the oils and oilseeds Vashi wholesale market here today on lower demand from stockists and retailers amidst good arrivals from producing belts.
Refined palmolein also inched down further on lack of retail buying support amidst bearish Malaysian advices.
Meanwhile, castorseeds bold and castoroil commercial recovered modestly following renewed demand from shippers and soap manufacturers.
Linseedoil held steady in the absence of any largescale buying activity.
In the futures market, castorseeds rebounded on good speculative demand on the back of renewed export enquiries.
In the edible section, groundnut oil dropped by Rs 15 per 10 kg to Rs 1,115 from Monday's closing level of Rs 1,130 and refined palmolein softened by a rupee per 10 kg to Rs 503.

In the non-edible section, castorseeds moved up by Rs 15 per 100 kg to Rs 3,490 from overnight close of Rs 3,475 and castorseeds bold edged up by Rs 3 per 10 kg to Rs 728 from Rs 725. Linseedoil closed unchanged at Rs 750 per 10 kg.
Turning to futures, Castorseed for June contract resumed higher at Rs 3,435 and moved up further Rs 3,477 before settling at Rs 3,460 from Rs 3,424 yesterday, showing a net gain of Rs 36 per tonne.