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Edible oils decline on subdued demand

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Press Trust of India Mumbai

Refined palmolein edged down on poor retail demand on the back of bearish Malaysian cues.

Meanwhile, in the non-edible segment, castorseeds bold and castoroil commercial recovered modestly owing to renewed demand from shippers and soap industries.

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

In futures, castorseeds moved up slightly on renewed speculative offtake on the back of better export enquiries.

In the edible segment, Groundnut oil fell by Rs 10 per 10 kg to Rs 1,190 from Thursday's closing level of Rs 1,200. Refined palmolein slipped by Rs 2 to Rs 596 per 10 kg as against Rs 598 yesterday.

 

Turning to non-edible segment,Castorseeds bold climbed by Rs 25 per 100 kg to Rs 3,650 from Rs 3,625 and castor oil commercial also moved up by Rs 5 per 10 kg to Rs 760 as compared to Rs 755. However, linseed oil closed unchanged at Rs 825 per 10 kg.

Moving to futures, castorseed December contract resumed lower at Rs 3,900, but later rose to Rs Rs 3,952 before settling at Rs 3,941 as compared to Rs 3,925 yesterday, showing a gain of Rs 16 per tonne.

  

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First Published: Sep 15 2012 | 4:15 AM IST

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