Groundnut oil slides on thin trade

Groundnut oil prices declined in a otherwise lacklustre oils and oilseeds market here today due to weak demand from stockist and retailers amidst ample supply from producing belts.
Meanwhile, refined palmolein and linseed oil ruled stable in the absence of any worthwhile buying activity.
In non-edible section, castorseeds bold and castoroil commercial eased on subdued demand from shippers and soap manufacturers.
In the futures market, castorseeds also went down amidst volatility on the back of lower export enquiries.
In edible section, groundnutoil dipped by Rs 20 per 10 kg to Rs 1,170 from Tuesday's closing level of Rs 1,190. Refined palmolein closed unchanged at Rs 505 per 10 kg.

In the non-edible section, castorseeds bold slipped by Rs 5 per 100kg to Rs 3,450 from Rs 3,455 and castor oil commercial inched down by a rupee per 10kg to Rs 720 as against Rs 721 previously. Linseed oil ended unaltered at Rs 750 per 10 kg.
Turning to futures, castorseed June contract resumed higher at Rs 3,560 and later moved in the range of Rs 3,580 and 3,533 before finishing at Rs 3,543 from Rs 3,550 previously, showing a modest loss of Rs 7 per tonne.