Groundnut oil drops on sluggish demand

Groundnut oil prices dropped further at the Vashi oils and oilseeds wholesale market here today due to sluggish demand from stockists and retailers amidst ample stocks position.
Refined palmolein also edged down further owing to mild demand from retailers.
Elsewhere, castorseeds bold and castoroil commercial prices eased following subdued demand from soap and shippers industries.
Linseed oil weakened further owing to lower demand from paint and allied industries.
In the edible segment, groundnut oil fell by Rs 20 per 10 kg to Rs 980 from Tuesday's close Rs 1,000 and refined palmolein softened by a Re per 10 kg to Rs 614.

Moving to non-edible section, castorseeds bold slid by Rs 20 per 100 kg to Rs 3,760 as against Rs 3,780 yesterday and castoroil commercial edged down by Rs 4 per 10 kg to Rs 782 as against Rs 786 yesterday.
Linseed oil prices declined by Rs 50 per 10 kg to Rs 950 as compared to yesterday's close Rs 1,000.