Refined palmolein weakens on good supply

Refined palmolein prices moved down at the oils and oilseeds market here today reduced offtake from retailers amid adequate stock positions.  

Groundnut oil maintained a stable trend in the absence of buying support. 

Castorseeds bold and castor oil commercial firmed up owing to rising demand from exporters coupled with higher industrial demand. 

Meanwhile, castorseeds futures declined on profit-selling coupled with lower export enquiries. 

Linseed oil continued to rule steady in the absence of market moving factors.

In the edible segment, refined palmolein edged down by Rs 3 per 10 kg to Rs 572 from Wednesday's closing level of Rs 575. Groundnut oil were unaltered at Rs 835 per 10 kg.

Turning to non-edible section, castorseeds bold gained by Rs 15 per 100 kg to Rs 5,110 from Rs 5,095 and castor oil commercial added Rs 3 per 10 kg to Rs 1,052 as compared to Rs 1,049 yesterday.

Linseed oil held steady at Rs 655 per 10 kg.

Moving to futures section, castorseeds for June delivery resumed higher at Rs 4,830 and edged up further to Rs 4,846, but later drifted to close at Rs 4,780 from overnight closing level of Rs 4,818, showing a loss of Rs 18 per tonne.