Edible oils falls on subdued demand

Groundnut oil prices moved down at the oils and oilseeds market here today due to subdued stockist demand on the back of increased supplies.

Refined palmolein continued to decline owing to poor consumer demand amidst lower Malaysian advices.

Linseed oil prices slipped on reduced demand from paint industries. 

Meanwhile, castorseeds bold and castor oil commercial rose further on rising demand from industrial users.   

Castorseeds futures also advanced on firming export orders.

In the edible-oil segment, groundnut oil eased by Rs 5 per 10 kg to Rs 755 from Thursday's closing level of Rs 760 and refined palmolein edged down by Rs 5 per 10 kg to Rs 590 as against Rs 595 yesterday.

Turning non-edible section, linseed oil dropped by Rs 15 per 10 kg to Rs 695 from previous closing level of Rs 710.

However, castorseeds bold surged by Rs 125 per 100 kg to Rs 5,750 from Rs 5,625 and castor oil commercial firmed up by Rs 25 per 10 kg to Rs 1,180 from Rs 1,155 yesterday.

Moving to futures section, castorseeds for March delivery resumed higher at Rs 5,240 and traded between Rs 5,310 and Rs 5,178 before settling at Rs 5,245 as compared to Rs 5,220 previously, showing a gain of Rs 25 per tonne.