Groundnut oil eases on subdued demand

Groundnutoil prices eased at the Vashi oils and oilseeds wholesale market here today due to subdued demand from stockists and retailers amidst good arrivals from producing regions.
Meanwhile, refined palmolein edged up on fresh demand from retailers.
In the non edible section, castorseeds bold and castor oil commercial surged owing to renewed demand from shippers and soap manufacturers.
Linseed oil ruled stable in the absence of any worthwhile buying.
In the futures market, castorseeds recovered moderately on good speculative demand amid renewed export enquiries.
In the edible section, groundnutoil fell by Rs 5 per 10 kg to Rs 1,205 from Wednesday's closing level of Rs 1,210. However, refined palmolein inched-up by a rupee to Rs 510 per 10 kg.

In the non-edible section, Castorseeds bold shot-up by Rs 60 per 100 kg to Rs 3,550 from Rs 3,490 and castoroil commercial also gained by Rs 12 per 10 kg to Rs 740 as against Rs 728. Linseed oil closed unchanged at Rs 770 per 10 kg.
Turning to futures, castorseeds June contract resumed higher at Rs 3,650 and rose to Rs 3,678 before settling at Rs 3,670 from Rs 3,630 previously, showing a gain of Rs 40 per tonne.