[Business India]: Mumbai, Jan 4 - Prices of edible oils declined sharplyon the oils and oilseeds market here today due to poor offtake in the faceof fresh arrival.

Castor oil, castorseed and castorseed futures also declined on poorindustrial and export demand.

In the edible section, groundnut oil fell sharply by Rs 6 to close at Rs472 from yesterday's close of Rs 478 and imported RBD palmolein declinedby Rs 4 to Rs 358 from the previous close of Rs 362 due to weak Malaysianadvices.

In Malaysia, CPO March contract declined sharply by 13 ringgit per tonneto 1374 ringgit due to losses in soyoil futures and persistnet conernsover higher stocks, dealers said.

In the non-edible section, castor oil commercial fell further by Rs 3 toRs 375 from Rs 378 yesterday and castorseed bold Madras to Rs 1725 fromRRs 1740 on reduced offtake from exporters. Linseed oil, however movednarrowly and closed steady at Rs 480.

Moving to futures market, castorseed February delivery contract openedsharply weak at Rs 1572.00 and after falling further to a low of Rs1549.50, closed at Rs 1551.50, showing a sharp fall of Rs 29.50 overyesterday's close of Rs 1581.

RBD palm oil February delivery contract also started weak at Rs 355.50 andafter moving narrowly closed at Rs 354.50, showing a small loss of Rs 3.50over the previous close of Rs 358. PTI