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Groundnut oil climbs fresh highs on festive demand

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Press Trust of India Mumbai

Refined palmolein also recovered on fresh retail buying.

In non-edible oils, castorseeds bold and castorseeds commercial surged owing to sustained demand from shippers and soap manufacturers.

In futures, castorseeds March contract witnessed speculative profit-taking amid volatility following subdued export enquiries.

In the edible section, Groundnutoil rose by Rs 10 per 10 kg to Rs 1,285 from Thursday's closing level of Rs 1,275 and refined palmolein gained by Rs 5 per 10 kg to Rs 475 from Rs 470.

Turning to non-edible section, castorseeds bold firmed up by Rs 100 per 100 kg to Rs 3,800 from yesterday's close of Rs 3,700 and castoroil commercial added by Rs 20 per 10 kg to Rs 790 from Rs 770. Linseedoil ended unchanged at Rs 815 per 10 kg.

 

Turning to futures, castorseed March contract resumed lower at Rs 4,160, but later rebounded to Rs 4,178 before drifting lower to close at Rs 4,115 from Rs 4,175 previously, showing a loss of Rs 60 per tonne.

  

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First Published: Dec 21 2012 | 5:25 PM IST

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