Groundnut oil slumps on poor demand

Groundnut oil prices slumped at the Vashi oils and oilseeds wholesale market here today due to stockist selling amid poor retail demand.
While, refined palmolein and linseeds oil ruled stable in the absence of any worthwhile buying activity.
In the non-edible section, castorseeds bold and castor oil commercial surged further on sustained demand from shippers and soap industries.
In the futures market,castorseeds for December firmed up further on speculative offtake on the back of steady export enquiries.
In the edible section, Groundnut oil slipped by Rs 830 per 10kg from Wednesday's closing level of Rs 840. However, refined palmolein closed unchanged at Rs 596 per 10kg.

Moving to non-edible segment,castorseed bold gained by Rs 75 per 100kg to Rs 4,175 from Rs 4,100,castoroil commercial also moved-up by Rs 15 per 10kg to Rs 865 as against Rs 850 previously. Linseedoil closed unaltered at Rs 820 per 10kg.
Turning to futures, castorseed December contract resume slightly lower at Rs 4,230 and later moved up to Rs 4,290 before settling at Rs 4,268 from Rs 4,235 previously, showing a net gain of Rs 28 per tonne.