Refined palmolein prices decline in a lacklustre trade

Refined palmolein prices declined in an otherwise lacklustre trade at the oils and oilseeds market here today due to lack of demand from retailers on the back of bearish Malaysian cues.
At the global front, palm oil for September delivery retreated 1.8 per cent to USD 710 a tonne on the Malaysia Derivatives.
Groundnut oil, castorseeds bold, castor oil commercial and linseedoil all held stable in the absence of any large scale buying.
In futures, castorseeds for September contract slipped following speculative selling amid reduced export enquiries.
In the edible segment, Refined palmolein dropped by Rs 6 per 10 kg to Rs 530 from last Saturday's closing level of Rs 536. Groundnutoil closed unchanged at Rs 1,000 per 10 kg.

Moving to futures, castorseeds September contract resumed higher at Rs 3,730 and moved up further to finish at Rs 3,760 from Rs 3,715 previously, showing a rise of Rs 45 per tonne.
Turning to non-edible section, castorseeds bold, castor oil commercial and linseedoil all closed unaltered at Rs 3,525, Rs 735 and Rs 730, respectively.