Groundnut oil drops on stockist offloading

Refined palmolein recovered modestly on fresh retail offtake.

Castorseeds bold and castoroil commercial rose further on sustained demand from shippers and soap manufacturers.

In futures, castorseeds firmed up further on good speculative demand on the back of rising export enquiries.

In the edible segment, Groundnut oil dipped by Rs 30 per 10 kg to Rs 1,160 from Friday's closing level of Rs 1,190, however refined palmolein edged up by Rs 2 to Rs 598 per 10 kg from Rs 596.

Turning to non-edible segment,Castorseeds bold surged by Rs 100 per 100 kg to Rs 3,750 from Rs 3,650 and castor oil commercial also gained by Rs 20 per 10 kg to Rs 780 as compared to Rs 760 yesterday. Linseed oil ruled stable at Rs 825 per 10 kg.

Moving to futures, castorseed December contract resumed slightly lower at Rs 3,940, but later advanced to close at Rs Rs 3,992 as against Rs 3,941 previously, showing a rise of Rs 51 per tonne.