Edible oils drop on subdued demand

Refined palmolein also fell in the absence of buying support from retailers amidst lower Malaysian cues.

Linseed oil ruled steady due to any worthwhile buying activity.

Meanwhile, in the non-edible segment, castorseeds bold and castoroil commercial maintained its uptrend on rising demand from shippers and soap manufacturers.

In futures, castorseeds gained further on steady speculative demand amid good export enquiries.

In the edible segment, Groundnut oil dipped by Rs 30 per 10 kg to Rs 1,130 from Monday's closing level of Rs 1,160. Refined palmolein slid by Rs 9 to Rs 585 per 10kg from Rs 594.

Turning to non-edible segment, Castorseeds bold advanced by Rs 50 per 100 kg to Rs 3,850 from Rs 3,800 and castoroil commercial also gained by Rs 10 per 10 kg to Rs 800 as against Rs 790 yesterday. However, linseed oil closed unchanged at Rs 820 per 10kg.

Moving to futures, castorseed December contract resumed higher at Rs 4,150 and moved in a range of Rs 4,170 and Rs 4,100 before ending at Rs 4,120 from Rs 4,110 yesterday, showing a modest gain of Rs 10 per tonne.