Edible oils drop on lacklustre trade

Groundnut oil prices dropped further in an otherwise lacklustre oils and oilseeds wholesale market at Vashi here today due to stockist selling on the back of good arrivals from producing regions.
Refined palmolein also slipped on reduced retail demand.
In non-edible section, castorseeds bold and castoroil commercial declined on subdued demand from shippers and soap manufacturers.
While, linseed oil maintained a stable trend in the absence of any worthwhile buying.
In the futures market, castorseeds recovered marginally due to speculative buying on the back of higher export enquiries.
In edible section, groundnutoil slid by Rs 20 per 10 kg to Rs 1,150 from Thursday's closing level of Rs 1,170. Refined palmolein eased by Rs 3 per 10kg to Rs 502 from Rs 505.

In the non-edible section, castorseeds bold dipped by Rs 25 per 100 kg to Rs 3,425 from Rs 3,450 and castor oil commercial moved down by Rs 5 per 10 kg to Rs 715 as compared to Rs 720 yesterday. Linseed oil closed unchanged at Rs 750 per 10 kg.
Turning to futures, castorseed June contract resumed slightly lower at Rs 3,540 and later moved in the range of Rs 3,550 and 3,525 before ending at Rs 3,547 from Rs 3,543 previously, showing a modest gain of Rs 4 per tonne.