Refined palmolein drops on subdued demand

Refined palmolein prices dropped in an otherwise mute oils and oilseeds market at Vashi here today on subdued demand from retailers amidst bearish Malaysian cues.
Linseeds oil also declined on stockist selling amidst weak demand from paint and allied industries.
Meanwhile, Groundnut oil, castorseeds bold and castor oil commercial prices held steady due to lack of any worthwhile buying.
In the futures market, castorseeds inched up slightly amid volatile trading on the back of mild export enquiries.
In the edible section, Refined palmolein fell by Rs 5 per 10 kg to Rs 507 from last Saturday's closing level of Rs 512. Groundnutoil closed unchanged at Rs 1,210 per 10 kg.

Moving to non-edible section, Linseed also moved down by Rs 5 per 10 kg to Rs 790 as compared to Rs 795 previously. Castorseeds bold and castor oil commercial closed unaltered at Rs 3,575 per 100 kg and Rs 745 per 10 kg, respectively.
Turning to futures, castorseeds June contract resumed lower at Rs 3,850, later shot up to Rs 3,883 before sliding to close at Rs 3,861 from last weekend level of Rs 3,859 showing a mere gain of Rs 2 per tonne.