Edible oils fall on reduced offtake

Groundnut oil prices fell at the oils and oilseeds wholesale market here today due to reduced offtake from stockist and retailers amidst fresh arrivals from producing belts.
Refined palmolein also slipped on subdued retail demand on the back of bearish Malaysian cues.
On the other hand, in the non-edible section, castorseeds bold and castor oil commercial prices surged, following heavy demand from shippers and soap manufacturers.
Meanwhile, linseed oil maintained a stable trend in the absence of any worthwhile buying.
On the futures market, castorseeds firmed up further on speculative buying following higher export enquiries.
In the edible section, Groundnutoil dropped by Rs 25 per 10 kg to Rs 1,075 from Monday's closing level of Rs 1,100. Refined palmolein also slipped by Rs 2 per 10 kg to Rs 508 as against Rs 510.

Moving to non-edible, Castorseeds bold climbed by Rs 40 per 100 kg to Rs 3,440 from Rs 3,400 and castor oil commercial also shot-up by Rs 8 per 10 kg to Rs 718 as compared to Rs 710. However, linseed oil all closed unchanged at Rs 740 per 10 kg.
Turning to futures, Castorseeds June contract resumed higher at Rs 3,344 and later moved up further to Rs 3,384 before ending at Rs 3,380 from Monday's closing level of Rs 3,335, a net rise of Rs 45 per tonne.