Groundnut oils drop on reduced demand

Groundnut oil prices dropped further in an otherwise lacklustre oils and oilseeds wholesale market at Vashi here today due to reduced demand from stockist and retailers amid ample supplies.
While, refined palmolein and linseed oil held steady in the absence of any worthwhile buying activity.
In non-edible section, castorseeds bold and castoroil commercial went down further owing to lack of demand from shippers and soap industries.
In the futures market, castorseeds declined further on speculative selling following subdued export enquiries.
In edible section, groundnutoil fell by Rs 10 per 10 kg to Rs 1,130 from Monday's closing level of Rs 1,140. Refined palmolein closed unchanged at Rs 500 per 10kg.

In the non-edible section, castorseeds bold dipped by Rs 50 per 100kg to Rs 3,375 from Rs 3,425, castoroil commercial moved down by Rs 10 per 10kg to Rs 705 as compared to Rs 715 yesterday. Linseed oil closed unaltered at Rs 750 per 10kg.
Turning to futures, castorseed June contract resumed steady at Rs 3,500 and moved in a range of Rs 3,502 and Rs 3,458 before finishing at Rs 3,468 from Rs 3,500 previously, showing a net loss of Rs 32 per tonne.