Castorseed futures drops on stockists sell-off

Castorseed futures prices dropped in an otherwise sluggish oils and oilseeds market here today due to subdued export demand coupled with stockists selling.

Refined palmolein also moved down slightly on poor offtake.

On the other hand, groundnut oil, castorseed bold, castoroil commercial and linseed oil all closed unchanged in the absence of market moving factors.

In the futures section, castorseeds for March delivery resumed lower at Rs 3,880 and drifted further to close at Rs 3,820 from yesterday's closing level of Rs 3,884, showing a sharp fall of Rs 64 per tonne.    

Turning to edible oil section, refined palmolein softened to Rs 577 per 10 kgs, as against Rs 578 previously.

Groundnut oil held steady at Rs 760 per 10 kg.

However, castorseed bold, castoroil commercial and linseed oil all closed unaltered at Rs 4,750, Rs 980 and Rs 700 respectively.