Groundnut oil declines on good supplies

Groundnutoil prices declined at the oils and oilseeds market here on Saturday on renewed stockists offloading as well as subdued export orders on the back of ample supply position.
    
Refined palmolein moved down on reduced retail offtake amidst lower Malaysian advices.
    
Castorseeds bold and castoroil commercial reacted downward due to lack of enquiries from soap industries coupled with poor export orders and weak spot market.
       
Linseed oil, however, held steady in absence of market moving factors.
    
In the edible-oil segment, groundnutoil dipped by Rs 10 per 10 kgs to Rs 870 from overnight closing level of Rs 880 and Refined palmolein fell by Rs 7 per 10 kgs to Rs 535 from Rs 542.
    
Turning to non-edible section, castorseeds bold slipped by Rs 50 per 100 kgs to Rs 4,450 from Rs 4,500 and castoroil commercial went down by Rs 10 per 10 kgs to Rs 920 as against Rs 930 previously. Linseedoil remained steady at Rs 740 per 10 kgs.
    
Moving to the futures section, castorseeds for December delivery resumed lower at Rs 4,050 and drifted further to Rs 3,992 before closing at Rs 4,007 from Rs 4,072 on Friday, showing a loss of Rs 65 per tonne.