Groundnut oil eases from record level

Groundnut oil prices declined modestly from its overnight record highs at the oils and oilseeds market here today due to reduced offtake from stockists and bulk traders.

Refined palmolein also continued to drift on lower retail buying.

Meanwhile, castorseeds bold and castoroil commercial edged up owing to renewed demand from shippers and soap industry. Castorseeds futures however, moved down on poor export enquiries.  

Linseed oil maintained a stable trend in the absence of market-moving factors.

In the edible segment, groundnut oil slipped by Rs 5 per 10 kg to Rs 945 from Monday's closing level of Rs 950 and refined palmolein looked down by Rs 2 per 10 kg to Rs 561 from Rs 563.

Turning to non-edible section, castorseed bold gained by Rs 10 per 100 kg to Rs 4,910 from Rs 4,900 and castoroil commercial added Rs 2 per 10 kg to Rs 1,012 as compared to Rs 1,010. Linseedoil held steady at Rs 750 per 10 kg.

Moving to futures section, castorseeds for September delivery resumed slightly higher at Rs 4,606 and hovered between Rs 4,622 and low of Rs 4,586 before settling at Rs 4,598, showing a marginal loss of Rs 7 per tonne.