Edible oils declines on poor offtake

Written by: Pti
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Mumbai, Jan 27 (PTI) Prices of groundnutoil and refinedpalmolein declined in an otherwise sluggish oils and oilseedsmarket here today due to poor offtake from stockists andretailers amidst good supplies.

Castorseeds bold and castoroil commercial dipped onlower demand from shippers and soap industries.

Meanwhile, castorseeds futures recovered modestly onfresh enquiries from exporters.

In the edible-oil section, Groundnutoil moved down byby Rs 5 per 10kgs to Rs 765 from Tuesday''s closing levelof Rs 770 and refined palmolein edged down by Rs 2 per 10 kgsto Rs 588 from Rs 590.

Turning to non-edible segment, castorseeds bold droppedby Rs 100 per 100kgs to Rs 5,300 from Rs 5,400, whilecastoroil commercial fell by Rs 20 per 10kgs to Rs 1,090as against Rs 1,110 previously. Linseed oil maintained asteady trend at Rs 710 per 10kgs.

Moving to futures section, castorseeds for March deliveryresumed higher at Rs 4,250 and moved in a range of Rs 4,282and Rs 4,225 before ending at Rs 4,261 from Tuesday''s closinglevel of Rs 4,240, showing a gain of Rs 21 per tonne.

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