Refined palmolein falls on global cues

Refined palmolein prices fell further at the oils and oilseeds Vashi wholesale market here due to stockists selling amidst lower retail buying support on the back of bearish Malaysian cues.
While, groundnutoil and linseed oil ruled steady in the absence of any major buying activity.
In the non-edible section, castorseeds bold and castor oil eased on reduced demand from shippers and soap industries.
In the futures market, castorseeds September declined on sustained selling following subdued export enquiries.
In the edible segment,Refined palmolein declined by Rs 7 per 10kg to Rs 585 from last Saturday's closing level of Rs 592. Groundnutoil closed unchanged at Rs 850 per 10kg.

Turning to non-edible segment, Castorseeds bold moved down by Rs 5 per 100kg to Rs 3,645 from Rs 3,650 and castor oil commercial also inched-down by a rupee per 10kg to Rs 759 from Rs 760. Linseeds oil closed unaltered at Rs 760 per 10kg.
Moving to futures, castorseeds September contract resumed lower at Rs 3,752 and moved in a range of Rs 3,762 and Rs 3,711 before closing at Rs 3,716 from Rs 3,763 previously, showing a loss of Rs 47 per tonne.