Edible oil declines on subdued demand

Groundnut oil prices declined at the oils and oilseeds market here today due to lower demand from stockists and retailers amidst good supply position.

Refined palmolein continued to weaken on stockists offering on the back bearish Malaysian advices.

Castorseed bold and castor oil commercial rallied further owing to sustained industrial demand. 

Meanwhile, castorseed futures moved down on dip in export enquiries.

In edible-oil segment, groundnutoil fell by Rs 5 per 10 kg to Rs 775 from yesterday's closing level of Rs 780 and refined palmolein eased by Rs 2 per 10 kg to Rs 585 from Rs 587 yesterday.

Turning to non-edible section, castorseed bold strengthened by Rs 50 per 100 kg to Rs 4,450 from Rs 4,400 and castoroil commercial firmed up by Rs 10 per 10 kg to Rs 920 as against 910 in the previous session.

Linseedoil were unchanged at Rs 700 per 10 kg.

Moving to futures section, castorseeds for March delivery resumed lower at Rs 3,695 but later rallied to Rs 3,719 before reacting downwards to end at Rs 3,681 from Rs 3,699 yesterday, showing a fall of Rs 18 per tonne.