Refined palmolein eases on overseas cues

Refined palmolein prices eased in an otherwise lacklustre oils and oilseeds market here today due to subdued retail offtake amid ample supply position on the back of bearish Malaysian cues.   

Meanwhile, groundnut oil, castorseeds bold, castor oil commercial and linseed oil held steady in the absence of any worthwhile buying.

In futures market, castorseeds prices firmed up on rising export demand.

In the edible segment, refined palmolein edged down by Rs 2 per 10 kg to Rs 542 from last Saturday's closing level of Rs 544. Groundnut oil closed unaltered at Rs 965 per 10 kg.

Moving to futures section, castorseeds for September delivery resumed lower at Rs 4,765 and traded between Rs 4,810 and Rs 4,745 before closing at Rs 4,800 from last weekend closing level of Rs 4,775, showing further gain of Rs 25 per tonne.

However, castorseeds bold, castor oil commercial and linseed oil all ended stable at Rs 4,850, Rs 1,000 and Rs 720, respectively.