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Groundnut oil spurts on fresh demand

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Press Trust of India Mumbai
Last Updated : Jan 25 2013 | 5:33 AM IST

Refined palmolein held steady in the absence of any worthwhile buying.

In the non-edible section, castorseeds bold and castor oil commercial moved up on renewed demand shippers and soap manufacturers.

Meanwhile, linseed oil continued its downtrend in the absence of demand from paint and allied industries.

In futures, castorseeds rebounded on heavy speculative buying amid higher export enquiries.

In the edible segment, Groundnut oil climbed by Rs 30 per 10 kg to Rs 1,030 from Thursday's closing level of Rs 1,000. Refined palmolein closed unchanged at Rs 500 per 10 kg.

Turning to non-edible segment, Castorseeds bold gained by Rs 15 per 100 kg to Rs 3,365 from Rs 3,350 and castoroil commercial also edged up Rs 3 per 10kg to Rs 703 fro Rs 700. However, linseed oil moved down by Rs 5 per 10 kg to Rs 780 as compared to Rs 785 yesterday.

Moving to futures, castorseed December contract resumed higher at Rs 3,560 and shot up to close at Rs 3,635 as compared to Rs 3,518 previously, showing a net gain of Rs 117 per tonne.

  

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First Published: Oct 05 2012 | 5:25 PM IST

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