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Groundnut oil prices decline on good supply

business Updated: Jan 14, 2009 19:54 IST

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Prices of groundnut oil declined on the oils and oilseeds market in Mumbai on Wednesday in the absence of demand from retailers amidst good supplies from producing belts.

Elsewhere, castorseeds bold and its oil moved down due to lack of enquiries from shippers and soap manufacturers.

In the edible section, groundnut oil fell by Rs 5 to Rs 590 from Tuesday's closing level of Rs 595. Refined palmolein, however, closed unchanged at Rs 340.

Moving to the non-edible section, castorseeds bold moved down by Rs 10 to Rs 2,315 from Rs 2,325 and castoroil commercial also eased by Rs 2 to Rs 493 as against Rs 495 previously. Linseed oil, however, ruled steady at Rs 580.

However, there was no trading in castorseeds futures market on observance of Makar Sankranti.