Groundnut oil prices moved down further at the Vashi wholesale market here today due to reduced demand from stockist and retailers following good arrivals from producing regions.
While, refined palmolein advanced on rising retail demand amidst higher Malayasian cues.
At the global front, palm oil for the August contract gained 1.3 per cent to USD 792 a tonne.
In the non-edible section, castorseeds bold, castoroil commercial and linseed oil ruled stable in the absence of any worthwhile buying activity.
In the futures market, castorseeds prices recovered on fresh speculative offtake owing to good export enquiries.
In the edible section, Groundnut oil closed dropped by Rs 10 per 10 kg to Rs 1,025 from Tuesday's closing level of Rs 1,035. However, refined palmolein gained by Rs 3 per 10 kg at Rs 511 as against Rs 508 yesterday.
Moving to futures, Castorseed for June contract opened higher at Rs 3,310 and later drifted to Rs 3,290 before ending at Rs 3,323 from Rs 3,304 previously, showing a net gain of Rs 19 per tonne.
Turning to non-edible section, castorseeds bold, castor oil commercial and linseedoil all closed unchanged at Rs 3,390 per 100 kg, Rs 708 per 10 kg and Rs 740 per 10 kg, respectively.
