Edible and non-edible oils drop on lacklustre demand

Groundnut oil prices dropped in an otherwise lacklustre oils and oilseeds market here today due to weak demand from stockist and retailers amidst ample arrivals from producing regions.
Refined palmolein declined on reduced offtake from retailers on the back of lower Malaysian cues.
Linseeds oil maintained a stable trend in the absence of any major buying.
In the non-edible segment, castorseeds bold and castor oil commercial fell due to lack of demand from shippers and soap manufacturers.
In the futures market,castorseeds for December slipped owing to reduced export enquiries.
In the edible section, groundnut oil dipped by Rs 20 per 10kg to Rs 860 from Thursday's closing level of Rs 880. Refined palmolein moved-down by Rs 2 per 10kg to Rs 603 as against Rs 605 yesterday.

Turning to non-edible segment, Castorseed bold shed Rs 25 per 100kg to Rs 3,500 from Rs 3,525, castoroil commercial eased by Rs 5 per 10kg to Rs 730 as compared to Rs 735 previously. Linseed oil closed unchanged at Rs 810 per 10kg.
Moving to futures, castorseed December contract resumed lower at Rs 3,764 and moved in a range of Rs 3,774 and Rs 3,745 before ending at Rs 3,753 from Rs 3,769 previously, showing a net loss of Rs 16 per tonne.