Groundnut oil declines on lower demand

Groundnutoil prices declined further in an otherwise dull Vashi wholesale market here today due to lower demand from stockist and retailers amidst ample supply positions.
Linseeds oil also eased on stockist selling amidst subdued demand from paint and allied industries.
Meanwhile, Refined palmolein, castorseeds bold and castoroil commercial prices held stable owing to lack of any worthwhile buying.
In the futures market, castorseeds moved down further on speculative selling following reduced export enquiries.
In the edible section, Groundnutoil fell by Rs 10 per 10 kg to Rs 1,210 from Friday's closing level of Rs 1,220. Refined palmolein closed unchanged at Rs 512 per 10 kg.

Moving to non-edible section, Linseed oil slipped by Rs 5 per 10 kg to Rs 785 as against Rs 790. Castorseeds bold and castoroil commercial both closed unaltered at Rs 3,580 per 100 kg and Rs 746 per 10 kg respectively.
Turning to futures, castorseeds June contract resumed slightly higher at Rs 3,850 and later drifted lower to Rs 3,815 before closing at Rs 3,825 from 3,845 previously, showing a loss of Rs 20 per tonne.