Edible oils decline on lower offtake

Refined palmolein also fell on subdued offtake from retailers on the back of sluggish Malaysian cues.

In non-edible segment, castorseed bold and castoroil commercial and linseedoil held steady in the absence of any major buying.

In futures, castorseeds prices recovered moderately on renewed speculative demand following good export enquiries.

In the edible segment, groundnutoil declined by Rs 5 per 10 kg to Rs 1,180 from Tuesday's closing level of Rs 1,185 and refined palmolein dropped by Rs 7 per 10 kg to Rs 615 from Rs 622 yesterday.

In futures, castorseeds for the September contract opened lower at Rs 3,460, but later surged to close at Rs 3,522 as compared to Rs 3,475 previously, showing a gain of Rs 47 per tonne.

However, castorseeds bold, castoroil commercial and linseed oil all closed unchanged at Rs 3,250, Rs 680 and Rs 745, respectively.