Groundnut oil prices drop in dull trade

Groundnut oil prices dropped in an otherwise lacklustre oils and oilseeds wholesale market at Vashi here today on subdued demand from stockists and retailers amid ample supplies.
Meanwhile, refined palmolein, castorseeds bold, castoroil commercial and linseed oil held steady in the absence of any major buying activity.
In the futures market, prices of castorseeds fell on heavy speculative selling pressure following lack of export enquiries.
In the edible segment, groundnutoil slid by Rs 10 per 10 kg to Rs 1,200 from Friday's closing level of Rs 1,210. Refined palmolein closed flat at Rs 510 per 10 kg.
Turning to futures, castorseeds June contract resumed lower at Rs 3,600 and declined further to Rs 3,546 before ending at Rs 3,556 from Rs 3,611 previously, showing a fall of Rs 55 per tonne.

However, moving to non-edible segment, castorseeds (bold), castoroil (commercial) and linseedoil all closed at yesterday's level of Rs 3,490, Rs 728 and Rs 750 respectively.