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Groundnut oil dips on continued selling

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Press Trust of India Mumbai
Last Updated : Jan 21 2013 | 4:10 AM IST

Refined palmolein also dropped due to lower retail demand amidst subdued Malaysian advices.

In the non-edible segment, castorseed bold and castoroil commercial remained bearish following lack of demand from shippers and soap manufacturers.

Linseedoil held stable in the absence of market moving factors.

In futures trade, castorseeds slid further on speculative sell-off owing to lack of export orders.

In the edible section, groundnutoil fell by Rs 10 per 10 kg to Rs 1,220 from last Saturday's closing level of Rs 1,230, and refined palmolein declined by Rs 6 per 10 kg to Rs 656 from Rs 662.

Turning to the non-edible section, castorseeds bold eased by Rs 25 per 100 kg to Rs 3,225 from previous close of Rs 3,250 and castorseed commercial moved down by Rs 5 per 10 kg to Rs 675 from Rs 680. Linseedoil were unaltered at Rs 770 per 10 kg.

Moving to futures, castorseed for June contract resumed lower at Rs 3,305 and dropped further to Rs 3,269 before ending at Rs 3,279 over its previous close of Rs 3,329, showing a fall of Rs 50 per tonne.

  

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First Published: May 07 2012 | 6:35 PM IST

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