Refined palmolein prices ease in a listless trade

MUMBAI: Refined palmolein prices eased further in an otherwise listless trade at the oils and oilseeds Vashi Wholesale market here today due to weak demand from retailers on the back of lower Malaysian cues.

At the global front, palm oil for September delivery retreated to USD 710 a tonne on the Malaysia Derivatives.

Groundnut oil, castorseeds bold, castoroil commercial and linseedoil all maintained a stable trend in the absence of any large scale buying.

In futures, castorseeds for September contract declined following speculative selling amid subdued export enquiries.

In the edible segment, Refined palmolein edged down by Rs 2 per 10 kg to Rs 528 from Monday's closing level of Rs 530. Groundnutoil closed unchanged at Rs 1,000 per 10 kg.

Moving to futures, castorseeds September contract resumed lower at Rs 3,740 and later rose to Rs 3,750 before ending at Rs 3,715 from Rs 3,760 previously, showing a loss of Rs 45 per tonne.

Turning to non-edible section, castorseeds bold, castor oil commercial and linseedoil all closed unaltered at Rs 3,525, Rs 735 and Rs 730, respectively.