Moderate declines in edible oil on good supply

Edible oil declined further in a mixed oils and oilseeds market here today on subdued offtake from retailers amidst good supplies from producing belts.

Meanwhile, castorseed bold and castor oil commercial firmed up on increased enquiries from shippers and soap manufacturers.

Castorseed futures also moved up on sustained export orders coupled with higher spot markets. Linseed oil maintained a stable trend in the absence of market moving factors.

In edible-oil segment, groundnut oil moved down by Rs 5 per 10 kg to Rs 765 from yesterday's closing level of Rs 770 and refined palmolein eased by Rs 3 per 10 kg to Rs 582 from Rs 585 previously.

Turning to non-edible section, castorseed bold shot up by Rs 50 per 100 kg to Rs 4,500 as against Rs 4,450 and castoroil commercial rose by Rs 10 per 10 kg to Rs 930 from Rs 920 yesterday. Linseed oil held steady at Rs 700 per 10kg.

Moving to futures section, castorseeds for March delivery resumed higher at Rs 3,800 and improved further to finish at Rs 3,803 as compared with Rs 3,785 previously, showing a gain of Rs 18 per tonne.