Edible oils fall on poor demand

Groundnut oil prices declined at the oils and oilseeds market here today due to subdued offtake from stockists and retailers amidst adequate supplies from producing regions.

Refined palmolein also weakened further on poor buying support as well as lower global cues. 

In the non-edible segment, castorseeds bold and castor oil commercial advanced on good demand from industrial users.

Castorseeds futures also gained owing to good export enquiries.

In the edible oil segment, groundnut oil dipped by Rs 5 per 10 kg to Rs 740 from overnight closing level of Rs 745 and refined palmolein moved down by Rs 4 per 10 kg to Rs 560 as against Rs 564 yesterday. 

Turning to non-edible section, castorseed bold rose by Rs 25 per 100 kg to Rs 5,100 from Monday's closing level of Rs 5,075 and castor oil commercial added by Rs 5 per 10 kg to Rs 1,050 from Rs 1,045 previously.

Linseed oil ended unaltered at Rs 660 per 10 kg. 

Moving  to futures section, castorseeds for June delivery resumed higher at Rs 4,630 and shot up to Rs 4,655 before settling at Rs 4,604 as compared to Rs 4,597 previously, showing a modest gain of Rs 7 per tonne.