Groundnut oil weakens on subdued demand

Groudnut oil weakened further at the Vashi oils and oilseeds wholesale market here today on poor demand from stockists and retailers amid good arrivals from producing region.
Elsewhere, refined palmolein also slipped due to lower offtake from stockists.
Meanwhile, castorseeds bold and castoroil commercial declined due to poor offtake from shippers and soap industries and linseed oil maintained stable trend in the absence of any large-scale buying activity.
In the edible segment, groundnutoil dipped Rs 50 per 10 kg to Rs 980 from Tuesday's closing level of Rs 1,030 and refined palmolein also went down by Rs 7 per 10 kg to Rs 490 as compared to Rs 497 yesterday.

Moving to non-edible segment, castorseeds bold declined by Rs 15 per 100 kg to Rs 4,100 as compared to Rs 4,115 yesterday and castoroil commercial eased Rs 3 per 10 kg to Rs 850 as against Rs 853.
Linseed oil prices closed unchanged at Rs 795 per 10 kg.