Groundnut oil declines on reduced offtake

Refined palmolein edged further on steady retail demand amidst bullish Malaysian cues.

In the non-edible section, castorseeds bold and castor oil commercial fell owing to lower demand from shippers and soap industries.

Linseed oil ruled stable in the absence of any worthwhile buying.

In futures, castorseeds fell on subdued speculative offtake following lower export enquiries.

In the edible segment, Groundnut oil dropped by Rs 15 per 10 kg to Rs 1,135 from Wednesday's closing level of Rs 1,150. However, refined palmolein inched-up by Re 1 per 10 kg to Rs 521 from Rs 520.

Turning to non-edible segment, Castorseeds bold moved down by Rs 50 per 100 kg to Rs 3,425 from Rs 3,475 and castor oil commercial went down by Rs 10 per 10 kg to Rs 715 as against Rs 725 previously. Linseed closed unchanged at Rs Rs 775 per 10 kg.

Moving to futures, castorseed December contract resumed lower at Rs 3,865, later hovered between Rs 3,895 and Rs 3,830 before closing at Rs 3,841 from Rs 3,895 previously, showing a loss of Rs 54 per tonne.