Groundnutoil drops on subdued demand

Groundnut oil prices dropped at the Vashi oils and oilseeds Wholesale market here today on subdued demand from stockists and retailers amidst good arrivals from producing regions.
Refined palmolein also eased further owing to sluggish retail demand on the back of lower Malaysian cues.
In the non-edible segment, linseed oil spurted on sustained demand from paint and allied industries.
Castorseed bold and castor oil commercial ruled stable in the absence of any worthwhile buying activity.
In the futures market, castorseeds for December slipped following speculative selling amid reduced export enquiries.
In the edible section, groundnut oil fell by Rs 10 per 10kg to Rs 850 from last Saturday's closing level of Rs 860. Refined palmolein also edged-down by Rs 2 per 10kg to Rs 600 as against Rs 602 previously.

Moving to non-edible segment, Linseeds oil climbed by Rs 20 per kg to Rs 830 from last weekend level of Rs 810. Castorseed bold and castoroil commercial closed unchanged at Rs 3,625 per 100kg and Rs 755 per 10kg, respectively.
Turning to futures, castorseed December contract opened lower at Rs 3,970 and drifted further to Rs 3,914 before ending at Rs 3,951 from Rs 3,982 previously, showing a loss of Rs 31 per tonne.