Edible oils declines on poor offtake

Prices of groundnut oil and refined palmolein declined in an otherwise sluggish oils and oilseeds market here today due to poor offtake from stockists and retailers amidst good supplies. 

Castorseeds bold and castoroil commercial dipped on lower demand from shippers and soap industries.   

Meanwhile, castorseeds futures recovered modestly on fresh enquiries from exporters.

In the edible oil section, groundnut oil moved down by by Rs 5 per 10 kg to Rs 765 from Tuesday's closing level of Rs 770 and refined palmolein edged down by Rs 2 per 10 kg to Rs 588 from Rs 590. 

Turning to non-edible segment, castorseeds bold dropped by Rs 100 per 100 kg to Rs 5,300 from Rs 5,400, while castoroil commercial fell by Rs 20 per 10 kg to Rs 1,090 as against Rs 1,110 previously.

Linseed oil maintained a steady trend at Rs 710 per 10 kg. 

Moving to futures section, castorseeds for March delivery resumed higher at Rs 4,250 and moved in a range of Rs 4,282 and Rs 4,225 before ending at Rs 4,261 from Tuesday's closing level of Rs 4,240, showing a gain of Rs 21 per tonne.