Refined palmolein drifts further on weak demand

While groundnut oil and linseed oil prices remained stable due to lack of market moving factors.

In the non-edible segment, castorseeds bold and castoroil commercial dropped on absence of demand from shippers and soap manufacturing units.

In futures, castorseeds market maintained its downtrend on selling pressure following poor export enquiries.

In the edible segment, Refined palmolein eased by Rs 4 per 10 kg to Rs 568 from Friday's closing level of Rs 572. Groundnut oil ended steady at Rs 1,110 per 10 kg.

Turning to non-edible segment, Castorseeds bold dipped by Rs 100 per 100 kg to Rs 3,615 from Rs 3,715 and castor oil commercial also slid by Rs 20 per 10 kg to Rs 753 compared to Rs 773 previously.

Moving to futures, castorseed December contract resumed lower at Rs 3,950 and declined to finish at Rs 3,880 against Rs 3,999 yesterday, showing a net loss of Rs 119 per tonne.