Refined palmolein slips on lower demand

Groundnut oil prices held stable in the absence of any buying activity.

In the non-edible section, Castorseed bold and castor oil commercial both declined on reduced demand from shippers and manufacturers.

Meanwhile, linseed oil moved up on renewed demand from paint and allied industries.

In futures, castorseeds fell on speculative selling following reduced export enquiries.

In edible segment, Refined palmolein slid by Rs 2 per 10 kg to Rs 518 from last weekend's closing level of Rs 520. Groundnut oil closed unchanged at Rs 1,140 per 10 kg.

Moving to non-edible segment, linseedoil climbed by Rs 5 per 10kg to Rs 805 from Saturday's closing levels of Rs 800. However, castorseeds bold dropped by Rs 10 per 100kg to Rs 3,515 from Rs 3,525 and castoroil commercial eased by Rs 5 per 10kg to Rs 733 as against Rs 735 previously.

Turning to futures, castorseed December contract resumed lower at Rs 3,950 and moved up further to Rs 3,990 before ending at Rs 3,950 as compared to Rs 3,982 last weekend, showing a net loss of Rs 32 per tonne.