Groundnut oil slips on weak demand

Groundnut oil prices slipped further in an otherwise lacklustre oils and oilseeds market here today due to reduced demand from stockists and traders coupled with increased arrivals.

Meanwhile, refined palmolein moved up marginally on better retail offtake. Castorseeds futures also declined owing to speculative offloading coupled with lower export order.

Castorseeds bold, castor oil commercial and linseeds oil closed stable in the absence of necessary buying support.

In the edible oil segment, groundnut oil edged down by Rs 5 per 10 kg to Rs 750 from Friday's closing level of Rs 755, while refined palmolein inched up to Rs 554 as against Rs 553 per 10 kg previously.

Turning to futures section, castorseeds for June delivery resumed higher at Rs 5,090, but later drifted to a low of Rs 5,040 before closing at Rs 5,045 as compared to overnight closing level of Rs 5,070, disclosing a loss of Rs 25 per tonne. 

However, castorseeds bold, castor oil commercial and linseed oil, all were unaltered at Rs 5,325, Rs 1,095 and Rs 660, respectively.