Refined palmolein drops on lower demand

Mumbai, Feb 24 (PTI) Refined palmolein fell furtherin an otherwise lacklustre oilseeds market here today onpoor stockists demand on the back of lower Malaysian advices.

Groundnutoil held steady on lack of buying support.

Castorseeds bold and castoroil commercial declined owingreduced demand from industrial users.

Castorseeds future also moved down on continued stockistoffloading amidst weak spot demand.

In the edible oil segment, refined palmolein dipped byRs 9 per 10 kgs to Rs 571 from Wednesday''s closing level of Rs580. Groundnutoil ended unchanged at Rs 750 per 10 kgs.

Turning to non-edible section, castorseeds bold went downby Rs 100 per 100 kgs to Rs 5,750 from Rs 5,850 and castoroilcommercial slipped by Rs 20 per 10 kgs to Rs 1,180 as againstRs 1,200 previously.

Moving to futures section, castorseeds for March deliveryresumed lower at Rs 5,250 and drifted further to Rs 5,165before recovering to settle at Rs 5,261 from yesterday''sclosing level of Rs 5,290, disclosing a loss of Rs 29 pertonne.