Refined palmolein prices ease on global cues

Refined palmolein prices eased at the wholesale market here today on lower demand from retailers amidst bearish Malaysian cues.
Meanwhile, groundnut oil held steady in the absence of any worthwhile buying.
In the non-edible segment, castorseeds bold and castor oil commercial dipped further owing to subdued demand from shippers and soap industries.
Linseeds oil also went down on stockist selling amidst lower demand from paint and allied industries.
In the futures market, castorseeds traded flat amidst volatility as well as poor export enquiries.
In the edible section, Refined palmolein edged down by Rs 3 per 10 kg to Rs 512 from Monday's closing level of Rs 515. Groundnutoil closed unchanged at Rs 1,210 per 10 kg.

Moving to non-edible section, Castorseeds bold slipped by Rs 25 per 100 kg to Rs 3,600 from Rs 3,625 and castor oil commercial looked-down by Rs 5 per 10 kg to Rs 750 as against Rs 755 yesterday. Linseed also fell by Rs 5 per 10 kg to Rs 855 from Rs 860.
Turning to futures, castorseeds March contract resumed slightly lower at Rs 3,786 and moved in a range of Rs 3,794 and Rs 3,780 before ending at previous level of Rs 3,788 per tonne.
June contract opened at Rs 3,991 and later drifted to lower down to Rs 3,959 before finishing at Rs 3,975 per tonne.