Groundnutoil eases on reduced demand

Refined palmolein prices held stable in the absence of any buying activity.

In the non-edible section, castorseed bold and castor oil commercial declined owing to poor demand from shippers and soap manufacturers.

While, linseed oil advanced further due to consistent demand from paint and allied industries.

In futures, castorseeds moved up on fresh speculative offtake amidst renewed export enquiries.

In edible segment, groundnutoil went down by Rs 5 per 10 kg to Rs 1,125 from Tuesday closing level of Rs 1,130. Refined palmolein closed unchanged at Rs 516 per 10kg.

In non-edible segment, Linseed gained by Rs 5 per 10 kg to Rs 790 as against Rs 785 previously. However, castorseeds bold moved down by Rs 25 per 100 kg to Rs 3,475 from Rs 3,500 and castoroil commercial slipped by Rs 5 per 10 kg to Rs 790 from Rs 785.

Turning to futures, castorseed December contract resumed slightly higher at Rs 3,950 and rose further to Rs 3,985 before settling at Rs 3,965 as compared to Rs 3,945 yesterday, showing a modest gain of Rs 20 per tonne.