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Groundnut oil strengthens on good demand

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Press Trust of India Mumbai
Last Updated : Jan 20 2013 | 6:29 AM IST

Refined palmolein edged down on lower demand from retailers on the back of bearish Malaysian cues.

Castorseeds bold and castor oil commercial prices moved up owing to better demand from shippers and soap manufacturers.

Linseed oil prices maintained a stable trend in the absence of any worthwhile buying.

In futures, castorseeds remained bearish on continued selling pressure in the absence of export enquiries.

In the edible section, groundnut oil gained by Rs 10 per 10 kg to Rs 1,235 from Thursday's closing level of Rs 1,225. However, refined palmolein softened by Re 1 per 10 kg to Rs 515 from Rs 516.

Turning to the non-edible segment, castorseeds bold climbed by Rs 10 per 100 kg to Rs 3,450 from Rs 3,440 and castoroil commercial went up by Rs 2 per 10kg to Rs 720 as against Rs 718. Linseedoil closed unchanged at Rs 820 per 10 kg.

Moving to futures,Castorseed December resumed slightly higher at Rs 3,605, but later drifted to Rs 3,557 before closing at Rs 3,562 as against Rs 3,602 yesterday, showing a loss of Rs 40 per tonne.

  

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First Published: Nov 23 2012 | 5:25 PM IST

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