Refined palmolein declines on global cues

Refined palmolein prices declined further in an otherwise lacklustre oils and oilseeds wholesale market here today on sluggish retail demand amidst lower Malaysian cues.
Meanwhile, groundnut oil, castorseeds bold, castoroil and linseed oil all ruled steady in the absence of any major buying activity.
In futures market, castorseeds December contract slipped on speculative selling following reduced export enquiries.
In the edible segment, Refined palmolein moved down by Rs 2 per 10kg to Rs 562 from Monday's closing level of Rs 564. Groundnut closed unchanged at Rs 870 per 10kg.
Turning to futures, castorseeds December contract opened higher at Rs 3,775, but drifted lower to Rs 3,752 before ending at Rs 3,761 from Rs 3,768 yesterday, showing a modest loss of Rs 7 per tonne.

Moving to non-edible section, castorseeds bold, castor oil commercial and linseed oil all closed unaltered at Rs 3,525 per 100 kg, Rs 735 per 10kg and Rs 745 per 10kg, respectively.