Edible oils shed on lower demand

Groundnut oil prices continued to decline sharply at the oils and oilseeds market here today on heavy stockists offloading amid lower retail demand.

Refined palmolein also dropped owing to ample supplies coupled with weakening trend in Malaysia.

Castorseeds bold, castoroil commercial and linseed oil held steady on lack of worthwhile trade. 

Meanwhile, castorseeds futures eased on subdued export enquiries.

In the edible segment, groundnutoil fell another Rs 15 per 10 kg to Rs 840 from yesterday's closing level of Rs 855 and refined palmolein dipped by Rs 7 per 10 kg to Rs 458 as against Rs 465 previously.

In the futures section, castorseeds December contracts resumed higher at Rs 3,620 and firmed up further to Rs 3,640, however, it declined to close lower at Rs 3,606 as against Rs 3,611 yesterday, showing a marginal loss of Rs 5 per tonne.

However, Castorseed bold, castoroil commercial and linseed all were unaltered at Rs 3925, Rs 815 and Rs 550 respectively.