Groundnut oil falls on sluggish demand

Groundnut oil prices fell in Vashi wholesale market here today on sluggish demand from stockists and retailers on the back of ample supplies.
While, refined palmolein maintained a steady trend in the absence of any worthwhile buying.
In the non-edible section, castorseeds bold and castoroil commercial also declined owing to lack of demand from shippers and soap manufacturers. Linseed oil also slipped owing to subdued demand from paint and allied industries.
In the futures market, castorseeds slid on speculative selling following reduced export enquiries.
In the edible section, Groundnutoil slumped by Rs 25 per 10 kg to Rs 1,035 from last Saturday's closing level of Rs 1,060. Refined palmolein closed unchanged at Rs 507 per 10 kg.

Moving to non-edible section, castorseeds bold slid by Rs 25 per 100 kg to Rs 3,440 from Rs 3,465, castoroil commercial dropped by Rs 5 per 10 kg to Rs 718 from Rs 723 and Linseed oil also eased by Rs 5 per 10 kg to Rs 740 as against Rs 745 previously.
Turning to futures, Castorseed for June contract opened lower at Rs 3,420 and drifted further to Rs 3,367 before concluding at Rs 3,372 from Rs 3,434 last Friday, showing a net fall of Rs 62 per tonne.