Refined palmolein moves down of lower demand, global cues

Refined palmolein prices moved down in an otherwise sluggish oils and oilseeds market here today due to lower demand from retailers on the back of bearish Malaysian cues.
Meanwhile, groundnut oil and linseeds ruled stable in the absence of any worthwhile buying.
In the non-edible segment, castorseeds bold and castor oil commercial eased further following lack of demand from shippers and soap manufacturers.
In futures market, castorseeds December contract recovered smartly on fresh speculative offtake following higher export enquiries.
In the edible segment, refined palmolein fell by Rs 3 per 10kg to Rs 567 from Tuesday's closing level of Rs 570. However, groundnutoil closed unchanged at Rs 840 per 10kg.

Moving to non-edible section, castorseeds bold shed by Rs 10 per 100kg to Rs 3,480 from Rs 3,490 and castoroil commercial edged down by Rs 3 per 10kg to Rs 726 as against Rs 728 yesterday. Linseed oil closed unaltered at Rs 750 per 10kg.
Turning to futures, castorseeds December contract resumed higher at Rs 3,670 and moved up further to Rs 3,712 before ending at Rs 3,707 from Rs 3,645 previously, showing a net gain of a 62 per tonne.