Refined palmolein drops on sluggish demand

On the other hand, groundnut oil ended stable in the absence of buying support.

In non-edible segment, linseed oil rose owing to good demand from paint and allied industries.

Castorseeds bold and castoroil commercial recovered modestly from the recent sharp fall on the back of renewed buying by shippers and soap manufacturers.

While in futures trade, castor seeds drifted further owing to reduced speculative buying.

In the edible section, refined palmolein shed Rs 8 per 10 kg to Rs 612 from Tuesday's closing level of Rs 620. However, groundnutoil held steady at Rs 1,250 per 10 kg.

Turning to non-edible segment, Linseed oil spurted by Rs 5 per 10 kg to Rs 840 from Rs 835 yesterday.

Castorseeds bold went up by Rs 75 per 100 kg to RS 3,950 as compared to Rs 3,875 and castoroil commercial firmed up by Rs 15 per 10 kg to Rs 820 as against Rs 805 previously.

Moving to futures, castor seed September contract started strong at Rs 4,220, but later fell back to close at Rs 4,165 over its previous close of Rs 4,185, showing a loss of Rs 20 per tonne.