Groundnut oil slips on reduced demand

Groundnut oil prices slipped at the oils and oilseeds market here today due to reduced offtake from stockists and retailers amidst good supply support.
Meanwhile, refined palmolein ruled steady in the absence of any worthwhile buying.
In the non-edible segment, castorseeds bold and castoroil commercial eased further following subdued demand from shippers and soap manufacturers.
Linseed oil also fell owing to lower demand from paint and allied industries.
In the futures market, castorseeds December contract remained lower on speculative selling amid subdued export enquiries.
In the edible segment, groundnut oil dipped by Rs 10 per 10kg to Rs 860 from Monday's closing level of Rs 870, while refined palmolein closed unchanged at Rs 562 per 10kg.

Turning to non-edible section, linseed oil declined by Rs 5 per 10kg to Rs 755 as against Rs 760 previously. Castorseeds bold moved down by Rs 15 per 100kg to Rs 3,600 as compared to Rs 3,615 and castoroil commercial eased by Rs 3 per 10kg to Rs 750 from Rs 753.
Moving to futures, castorseeds December contract opened slightly higher at Rs 3,851 and moved in a range of Rs 3,861 and Rs 3,820 before settling at Rs 3,830 from Rs 3,848 yesterday, showing a modest loss of Rs 18 per tonne.