Refined palmolein remains weak on low demand

Refined palmolein continued to rule weak at the oils and oilseeds market here today due to lack of buying support from retailers.

Linseed oil declined further in the absence of demand from paint industry amidst increased arrivals from producing belts.    

Castorseeds futures also fell back on poor export orders. 

Meanwhile, groundnut oil, castorseeds bold and castor oil commercial closed unchanged in the absence of market moving factors.

In the edible oil segment, refined palmolein moved down by Rs 3 per 10 kg to Rs 587 from yesterday's closing level of Rs 590. Groundnut oil, however held steady at Rs 755 per 10 kg.

Turning to non-edible section, linseed oil declined further by Rs 10 per 10 kgs to Rs 685 from Friday's closing level of Rs 695.

Castorseeds bold and castor oil commercial both closed unaltered at Rs 5,750 and Rs 1,180 respectively.

Moving to futures section, castorseeds for March delivery resumed lower at Rs 5,200 and moved in a range of Rs 5,225 and Rs 5,100 before finishing at Rs 5,195 as against Rs 5,245 previously, showing a fall of Rs 50 per tonne.