Refined palmolein slips on reduced demands, global cues

Refined palmolein slipped at the oils and oilseeds Vashi wholesale market here today on reduced retail demand on the back of lower Malaysian cues.
Groundnut oil maintained a steady trend in the absence of any large-scale buying.
In the non-edible section, castorseeds bold and castor oil commercial dropped further owing to lack of demand from shippers and soap industries.
However, linseed oil advanced further due to firm demand from paint and allied industries.
In the futures market, castorseeds for September witnessed sustained speculative selling amid lower export enquiries.
In the edible segment, Refined palmolein fell by Rs 18 per 10kg to Rs 602 from Thursday's closing level of Rs 620. However, groundnutoil closed unchanged at Rs 850 per 10kg.

Turning to non-edible segment, Castorseeds bold dipped by Rs 125 per 100kg to Rs 3,600 from Rs 3,725 and castoroil commercial declined by Rs 25 per 10kg to Rs 750 from Rs 775. However, linseeds oil moved-up by Rs 5 per 10kg to Rs 755 as against Rs 750 previously.
Moving to futures, castorseed for September contract resumed lower at Rs 3,795 and fell to Rs 3,698 before ending at Rs 3,709 from Rs 3,810 previously, showing a loss of Rs 101 per tonne.