Groundnut oil eases on lower demand

Groundnut oil prices eased at the oils and oilseeds market here today on subdued demand from stockists and retailers on the back of improved supplies. Meanwhile, refined palmolein moved up slightly due to stray demand from consumers.

Castorseeds bold and castor oil commercial moved down further owing to lack of demand from soap industries. In futures market, castorseeds gained on renewed demand from exporters.

In the edible segment, groundnut oil fell by Rs 5 per 10 kg to Rs 935 from Friday's closing level of Rs 940, while refined palmolein looked up to Rs 535 per 10 kg from Rs 534 yesterday. 

Turning to non-edible section, castorseeds bold dipped by Rs 25 per 100 kg to Rs 4,850 from yesterday's close of Rs 4,875 and castor oil commercial lost by Rs 5 per 10 kg to Rs 1,000 as against Rs 1,005.

Linseed oil closed stable at Rs 720 per 10 kg. 

Moving to futures section, castorseeds for September delivery resumed higher at Rs 4,690 and firmed up further to Rs 4,730 before closing at Rs 4,696 from Rs 4672 previously, showing a gain of Rs 24 per tonne.