Refined palmolein declines on subdued demand

Castorseeds bold and castoroil commercial slipped owing to reduced offtake from shippers and soap manufacturers.

Linseeds oil also eased due to lack of demand from paint and allied industries.

Groundnut oil held steady in the absence of any worthwhile buying.

In futures, castorseeds traded flat to edge up slightly on better export enquiries.

In the edible segment, Refined palmolein moved down by Rs 6 per 10 kg to Rs 610 from Wednesday's closing level of Rs 616. Groundnutoil closed unchanged at Rs 1,250 per 10kg.

Turning to non-edible segment, Castorseeds bold fell by Rs 40 per 100 kg to Rs 3,845 from Rs 3,885 and castor oil commercial went down by Rs 8 per 10 kg to Rs 799 as against Rs 807 previously. Linseed oil also dipped by Rs 5 to Rs 830 per 10 kg as compared to Rs 835 previously.

In futures, castorseed September contract resumed slightly higher at Rs 3,920, but later drifted to Rs 3,870 before settling at Rs 3,915 from Rs 3,912 yesterday, showing a marginal gain of Rs 3 per tonne.