Groundnut oil prices weaken on poor demand

Groundnut oil prices weakened further
at the oils and oilseeds Vashi Wholesale market here today due to poor demand from stockist and retailers amidst good arrivals from producing belts.
While, refined palmolein recovered marginally on fresh retail demand following bullish Malaysian cues.
In the non-edible segment, castorseeds bold and castor oil commercial prices declined further on subdued demand from shippers and soap manufacturers.
Linseed oil maintained a stable trend in the absence of any worthwhile buying activity.
In futures market, castorseeds for September contract continued its downtrend on lower speculative offtake amidst weak export enquiries.

In the edible section, Groundnut oil dropped by Rs 20 per 10 kg to Rs 1,000 from last Saturday's closing level of Rs 1,020. Refined palmolein inched-up by a rupee per 10 kg to Rs 526.

Turning to non-edible segment, Castorseeds bold fell by Rs 25 per 100 kg to Rs 3,500 from Rs 3,525 and castor oil commercial moved down by Rs 5 per 10 kg to Rs 730 as compare to Rs 735 previously.
Linseed oil closed unaltered at Rs 740 per 10 kg.
Moving to futures, Castorseeds September contract resumed lower at Rs 3,800 and later fell further to Rs 3,742 before concluding at Rs 3,747 from Rs 3,834 previously, showing a fall of Rs 87 per tonne.