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Groundnut oil drifts on fresh supplies, weak demand

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Press Trust of India Mumbai
Last Updated : Jan 21 2013 | 6:21 AM IST

Groundnut oil prices continued to slide at the oil and oilseeds market here today due to subdued domestic demand amid persistent arrivals from key producing belts.

Refined palmolein also eased on poor retail buying support.

Meanwhile, castorseeds futures market witnessed fresh buying activity owing to renewed export demand.

Castorseeds bold, castoroil commercial and linseeds oil closed stable in the absence of worthwhile buying.

In edible oil segment, groundnut oil declined by Rs 10 to Rs 690 per 10 kg from overnight closing level of Rs 700, while refined palmolein softened to Rs 490 per 10 kg, compared to Rs 491 previously.

Turning to futures trade, castorseeds for December delivery resumed higher at Rs 3,495 and firmed up further to Rs 3,510 before ending at Rs 3,504 from yesterday's close of Rs 3,484, registering a gain of Rs 20 per tonne.

However, castorseeds bold, castoroil commercial and linseed oil, all were closed unaltered at Rs 3,780, Rs 786 and Rs 550, respectively.

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First Published: Nov 03 2010 | 6:29 PM IST

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