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Castoroil commercial firms up on better demand

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Press Trust of India Mumbai

Castorseeds bold and castoroil commercial firmed up at the oils and oilseeds market here today on renewed demand from industrial users.

Castorseeds futures market too witnessed brisk speculative buying activitties amidst higher spot demand.

Meanwhile, refined palmolein eased further on weak retail offtake.

Groundnut oil, other edible oil, however closed stable in the absence of buying support.

Linseed oil also ended steady owing to lack of worthwhile demand.

In the non-edible oil segment, castorseeds bold rose Rs 45 per 100 kgs to Rs 3,950 from last weekend's closing level of Rs 3,905, while castoroil commercial moved up by Rs 9 per 10 kgs to Rs 820, as compared with Rs 811 previously.

Turning to futures section, castorseeds December delivery resumed higher at Rs 3,725 and strengthened further to close at Rs 3,770 from Rs 3,685 last Saturday, showing a smart rise of Rs 85 per tonne.

Moving to edible oil section. Refined palmolein softened to Rs 524 per 10 kgs from Rs 523 previously. However, groundnut oil held steady at Rs 755 per 10 kgs.

 

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First Published: Nov 22 2010 | 5:45 PM IST

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