Refined palmolein slips on reduced offtake

Refined palmolein slipped at the Vashi oils and oilseeds Wholesale market here today on reduced offtake from retailers amidst bearish Malaysian cues.
Groundnut oil and linseedoil maintained a steady trend in the absence of any largescale buying.
In the non-edible segment, castorseed bold and castor oil commercial gained further on sustained demand from shippers and soap industries.
In futures trade, castorseeds September contract rose further due to sustained speculative demand on the back of higher export enquiries.
In the edible segment, refined palmolein softened by a rupee per 10 kg to Rs 532 from last Saturday's closing level of Rs 533. Groundnut oil closed unchanged at Rs 970 per 10 kg.

Turning to non-edible section, castorseed bold climbed by Rs 25 per 100 kg to Rs 3,525 from Rs 3,500 and castor oil commercial moved up by Rs 5 per 10 kg to Rs 735 as against Rs 730 previously. Linseedoil were unaltered at Rs 730 per 10 kg.
Moving to futures, castorseeds September contract resumed higher at Rs 3,500 and surged further to Rs 3,578 before closing at Rs 3,563 from Rs 3,480 last weekend, showing a net gain of Rs 83 per tonne.