Groundnut oil eases on lower demand

Groundnut oil prices eased in an otherwise sluggish oils and oilseeds market here today due to subdued stockists and retail demand amidst ample supply positions.

Meanwhile, refined palmolein edged up on better retail offtake. Castorseeds bold and castor oil commercial slipped owing to lower demand from shippers and soap industries.

Castorseeds futures also slid further on steady unwinding in the absence of export enquiries. 

In the edible section, groundnut oil declined by Rs 5 per 10 kg to Rs 965 from overnight closing level of Rs 970,while refined palmolein inched up by a rupee per 10 kg to Rs 554 from Rs 553. 

In the non-edible section, castorseeds bold went down by Rs 20 per 100 kg to Rs 5,220 from Thursday's closing level of Rs 5,240 and castor oil commercial moved down by Rs 4 to Rs 1,074 per 10 kg from Rs 1,078.

Linseed oil remained steady at Rs 720 per 10 kg.

Turning to futures section, castorseeds for September delivery resumed higher at Rs 5,290 but later drifted to close at Rs 5,210 as against 5,250 previously, showing a fall of Rs 40 per tonne.