Groundnut oil declines on increased supply

Groundnut oil prices declined at the oils and oilseeds market here today due to subdued retail offtake amidst increased supplies. Meanwhile, refined palmolein rose on renewed consumer demand amidst firm Malaysian advices.

In non-edible segment, linseedoil also spurted owing to rising demand from paint industries. Castorseeds bold and castorseed commercials held steady in the absence of worthwhile buying.

Castorseeds futures edged higher on better export orders.

In edible segment, groundnut oil fell by Rs 5 per 10 kgs to Rs 855 from overnight closing level of Rs 860, while refined palmolein went up by Rs 5 per 10 kgs to Rs 580 from Rs 575 previously. 

Turning to non-edible segment, linseed oil advanced by Rs 10 per 10 kg to Rs 735 from Wednesday's closing level of Rs 725.

Castorseeds bold and castoroil commercial ended stable at Rs 5,125 and Rs 1,055 respectively.

Turning to futures section, castorseeds for June delivery resumed higher at Rs 4,755 and moved in a range of Rs 4,769 and Rs 4,740 before finishing at Rs 4,754 from Rs 4,750 yesterday, showing a marginal gain of Rs 4 per tonne.