Groundnut oil weakens on poor demand

Groundnut oil prices maintained downtrend at the oils and oilseeds market here today due to poor demand from stockist and retailers amidst good arrivals from producing belts.
Meanwhile, refined palmolein held steady in the absence of any worthwhile buying support.
In the non-edible segment, castorseeds bold and castoroil commercial rose on renewed offtake from shippers and soap industries.
While linseeds oil fell further on stockist selling on the back of lower demand from paint and allied industries.
In the futures market, castorseeds witnessed volatility and slipped on selling pressure following subdued export enquiries.
In the edible section, Groundnutoil declined by Rs 5 per 10kg to Rs 1,200 from Friday's closing level Rs 1,205. Refined palmolein closed unchanged at Rs 515 per 10 kg.

Moving to non-edible section, castorseeds bold climbed by Rs 50 per 100 kg to Rs 3,650 from overnight close of Rs 3,600 and castoroil commercial moved up by Rs 10 per 10 kg to Rs 760 as against Rs 750 previously. Linseed oil eased by Rs 5 per 10 kg to Rs 865 from Rs 870.
Turning to futures, castorseeds March contract resumed lower at Rs 3,830, but later drifted to Rs 3,790 before settling at Rs 3,800 from Rs 3,843 yesterday, showing a loss of Rs 43 per tonne.