Refined palmoil declines on reduced demand

While, groundnut oil ruled steady in the absence of any worthwhile buying.

In non-edible, castorseeds bold and castoroil commercial gained further owing to persistent demand from shippers and soap manufacturer. Linseed oil also moved up on renewed demand from paint and allied industries.

In futures, castorseeds prices remained bullish on consistant demand following higher export orders.

In the edible-segment, refined palmoil slipped by Rs 5 per 10 kg to Rs 595 from Wednesday's closing level of Rs 600. Groundnut oil closed unchanged at Rs 1,190 per 10 kg.

Turning to non-edible, castorseed bold moved up by Rs 25 per 100 kg to Rs 3,050 from Rs 3,025 and castoroil commercial and Linseed oil both went up by Rs 5 per 10 kg each to Rs 640 and Rs 710 from Rs 635 and Rs 705 respectively.

 

Moving to futures, castorseed for the September contract resumed higher at Rs 3,170 and climbed to Rs 3,216 before ending at Rs 3,208 as against Rs 3,159 previously, showing a gain of Rs 49 per tonne.