Groundnut oil weakens on poor offtake

Groundnut oil prices weakened further at the Vashi oils and oilseeds wholesale market here today following poor offtake from stockists and retailers amidst ample supply from producing region.

Industrial oils also slipped due to sluggish demand from soaps and shippers industries.While, refined palmolein recovered marginally owing to fresh demand from retail buyers.Meanwhile, linseeds oil maintained steady in the absence of any large-scale buying activity.

In the edible section, groundnut oil moved down by Rs 5 per 10 kg to Rs 930 from last Saturday's closing level of Rs 935, but, refined palmolein inched up to Rs 613 per 10 kg.Moving to the non-edible segment, castorseeds bold declined by Rs 20 per 100 kg to Rs 4,525 as against last weekend's closing level of Rs 4,545 and castoroil commercial edged down to Rs 935 as compared Rs 939 previously.Linseeds oil ended unaltered at Rs 770 per 10 kg.