Groundnut oil eases lower offtake

Groundnut oil prices eased in an otherwise mute oils and oilseeds market here today due to lower retail offtake amidst good supplies. Refined palmolein held steady in the absence of any worthwhile buying activity.

Castorseeds bold and castor oil commercial slid further owing to poor demand from shippers and soap industries. Castorseed futures also dipped on weak export orders. 

In the edible oil section, groundnut oil moved down by Rs 5 per 10 kg to Rs 965 from overnight closing level of Rs 970. Refined palmolein closed unchanged at Rs 556 per 10 kg. 

Turning to non-edible section, castorseeds bold fell by Rs 25 per 100 kg to Rs 5,200 from Friday's closing level of Rs 5,225 and castor oil commercial edged down by Rs 5 per 10 kg to Rs 1,070 as against Rs 1,075 yesterday.

Linseed oil were unaltered at Rs 710 per 10 kg. In the futures trade, castorseeds for September delivery resumed higher at Rs 5,250, but later drifted to close at Rs 5,180 from Rs 5,240 previously, showing a further fall of Rs 60 per tonne.