Edible oils decline on subdued demand

Written by: Pti
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Mumbai, Feb 16 (PTI) Groundnut oil prices declined in anotherwise sluggish oils and oilseeds market here today due toreduced stockists demand amidst adequate supply positions.

Refined palmolein also eased on lower Malaysian advices.

Castorseeds bold and castoroil commercial slumped furtheron heavy offloading by stockists on the back poor demand fromIndustrial users

Castorseeds futures market continued to slide owing toconsistent selling by speculators as well as lack of exportenquiries.

In the edible-oil segment, groundnut oil fell by Rs 5 per10 kgs to Rs 760 from yesterday''s closing level of Rs 765 andRefined palmolein moved down by Rs 3 per 10 kgs to Rs 602 asagainst Rs 605 previously.

Turning non-edible section, castorseeds bold dropped byRs 200 per 100 kgs to Rs 5450 from overnight closing level ofRs 5,650 and castoroil commercial dipped by Rs 40 per 10 kgsto Rs 1,120 as compared to Rs 1,160 yesterday. Linseed oilended unchanged at Rs 710 per 10 kgs.

Moving to futures section, castorseeds for Marchdelivery resumed lower at Rs 5,200 and slipped further toclose at Rs 5,087 from Tuesday''s closing level of Rs 5,243,disclosing a further fall of Rs 156 per tonne.

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