Edible and non-edible oils drop on sluggish demand

Groundnutoil prices dropped in an otherwise sluggish oils and oilseeds wholesale market here today due to weak demand from stockists and retailers amidst ample arrivals from producing regions.
Refined palmolein fell further on subdued offtake from retailers.
In the non-edible section, castorseeds bold and castor oil eased further due to lack of demand from shippers and soap manufacturers.
Linseed oil maintained a stable trend in the absence of any major buying activity.
In futures market, castorseeds December contract recovered moderately on good demand on the back of renewed export enquiries.
In the edible segment, Groundnutoil shed by Rs 15 per 10kg to Rs 860 from Thursday's closing level of Rs 875 and refined palmolein moved down by Rs 3 per 10kg to Rs 553 as compared to Rs 556 previously.

Moving to non-edible section,castorseeds bold declined by Rs 15 per 100kg to Rs 3,460 from Rs 3,475, castoroil commercial went down by Rs 3 per 10kg to Rs 722 as against Rs 725 previously and Linseedoil closed unchanged at Rs 745.
Turning to futures, castorseeds December contract opened slightly higher at Rs 3,670 and advanced to Rs 3,716 before settling at Rs 3,707 from Rs 3,663 previously. Showing a gain of Rs 44 per tonne.