Refined palmolein declines on lower demand, global cues

Refined palmolein prices declined in an otherwise lackluster oils and oilseeds market here today due to lack of demand from retailers amidst bearish Malaysian cues.
In the global, palmoil for the contract for delivery in January slid 0.7 per cent to USD 777 a tonne on the Malaysia Derivatives exchange.
Groundnut oil, castorseeds bold, castoroil commercial and linseed oil all ruled steady in the absences of large-scale buying activity.
In futures market, castorseeds December contract declined further on speculative selling amidst subdued export enquiries.
In the edible segment, Refined palmolein shed by Rs 3 per 10kg to 577 from Thursday's closing level of Rs 580. Groundnut oil closed unchanged at Rs 860 per 10kg.

Turning to futures, castorseeds December contract resumed slightly lower at Rs 3,700 and moved down to Rs 3,669 before ending at Rs 3,679 from Rs 3,714 previously, showing net loss of Rs 35 per tonne.
Moving to non-edibles, Castorseeds bold, castoroil commercial and linseeds oil all ended unaltered at Rs 3,450 per 100kg, Rs 720 and Rs 750 per 10kg respectively.