Edible oils drops on subdued demand, global cues

Groundnutoil dropped at the Vashi oils and oilseeds market here today due to subdued demand from stockist and retailers on the back of ample supply position.

Refined palmolein eased further owing to lack of retail buying support amidst lower Malaysian cues.

Meanwhile, linseed oil climbed on fresh demand from paint and allied industries.

In the non-edible section, castorseeds bold and castor oil commercial ruled stable in the absence of any worthwhile buying activity.

The castorseeds futures rates were unavailable today.

In the edible section, Groundnut oil declined by Rs 10 per 10 kg to Rs 790 from Monday's closing level of Rs 800 and Refined palmolein moved down by Rs 2 per 10 kg to Rs 570 as against Rs 572 previously.

Moving to non-edible segment, Linseedoil gained by Rs 5 per 10kg to Rs 830 as compared to Rs 825 yesterday.

Castorseed bold and castoroil commercial closed unchanged at Rs 4,050 per 100 kg and Rs 840 per 10 kg, respectively.