Refined palmolein softens on reduced offtake

Refined palmolein softened in an otherwise sluggish oils and oilseeds market here today on reduced retail offtake amid bearish Malaysian advices.
Meanwhile, groundnutoil held steady in the absence of any major buying activity.
In non-edible section, castorseeds bold and castor oil commercial eased further due to lower demand from shippers and soap industries.
In the futures market, castorseeds slid on continued speculative selling on the back subdued export enquiries.
In edible section, Refined palmolein inched down by a rupee per 10 kg to Rs 510 from overnight close of Rs 511. Groundnutoil closed unchanged at Rs 1,230 per 10 kg.

Moving to non-edible section, castorseeds bold moved down by Rs 10 per 100 kg to Rs 3,565 from Friday's closing level of Rs 3,575 and castoroil commercial also edged down by Rs 2 per 10 kg to Rs 743 from Rs 745. Linseedoil ended unaltered at Rs 790 per 10 kg.
Turning to futures, castorseeds June contract resumed lower at Rs 3,820 and declined to close at Rs 3,794 from 3,832 previously, showing a loss of Rs 38 per tonne.