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Groundnut oil declines on reduced demand

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Press Trust of India Mumbai

While, refined palmolein edged up on renewed retail buying.

In non-edible segment, linseed oil prices rose further due to consistent demand from paint and allied industries.

Meanwhile, castorseeds bold and castoroil commercial price held steady in the absence of any worthwhile buying.

In futures, castorseeds slipped owing to speculative selling amidst volatility following reduced export enquiries.

In the edible segment, groundnutoil moved down by Rs 5 per 10 kg to Rs 1,180 from last Saturday's closing level of Rs 1,185. However, refined palmolein gained by Rs 2 to Rs 626 per 10 kg from Rs 624.

Moving to non-edible segment, Linseed oil climbed by Rs 10 per 10 kg to Rs 840 from Rs 830. Castorseeds bold and castoroil commercial both ruled stable at Rs 3,850 per 100 kg and Rs 800 per 10 kg respectively.

 

Turning to futures, castorseeds for the September contract opened lower at Rs 4,090 and moved in range of Rs 4,110 and Rs 4000 before closing at Rs 4,025 as against Rs 4,105 previously, showing a loss of Rs 80 per tonne.

  

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First Published: Jul 23 2012 | 6:38 PM IST

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