Groundnut oil falls on stockist selling

Groundnut oil prices fell sharply in an otherwise mute oils and oilseeds wholesale market here today on sustained stockist selling amidst fresh arrivals from producing regions.
Refined palmolein also eased on lower retail demand on the back bearish Malaysian cues.
Meanwhile, in the non-edible segment, castorseeds bold, castoroil commercial and linseed oil ruled stable in the absence of any worthwhile buying activity.
In futures market, castorseeds December contract slid on persistent speculative selling on the back of lower export enquiries.
In the edible segment, groundnutoil dropped by Rs 30 per 10kg to Rs 870 from Thursday's closing level of Rs 900 and refined palmolein edged-down by Rs 2 per 10kg to Rs 568 as against Rs 570 previously.

Moving to futures, castorseeds December contract opened lower at Rs 3,830 and drifted further to finish at Rs 3,775 from Rs 3,848 yesterday, showing a fall of Rs 73 per tonne.
Turning to non-edible section, Castorseeds bold, castor oil commercial and linseeds oil all closed unchanged at Rs 3,485 per 100kg, Rs 727 and Rs 750 per 10kg respectively.