Groundnut oil slumps on reduced demand

Groundnut oil slumped further at the Vashi oils and oilseeds wholesale market here today owing to reduced demand from stockists and retailers on the back ample supply positions.
Refined palmolein recovered modestly following renewed retail demand.
In the non-edible segment, castorseeds bold and castor oil commercial prices eased further on lower demand from shippers and soap industries.
Linseed oil maintained a stable trend in the absence of any major buying activity.
The castorseeds futures rate were unavailable.
In the edible segment, groundnut oil fell by Rs 10 per 10 kg to Rs 750 from Friday's closing level of Rs 760 however, refined palmolein rose by Rs 3 per 10kg to Rs 573 as against Rs 570 previously.

Moving to non-edible section, castorseeds bold eased by Rs 10 per 100kg to Rs 3,965 from Rs 3,975 and castoroil moved down by Rs 2 per 10kg to Rs 823 as compared to Rs 825 yesterday. Linseed oil closed unchanged at Rs 840 per 10kg.