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Groundnut oil drops on stockist selling

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Press Trust of India Mumbai

Refined palmolein also edged down further on lack of retail buying support amidst lower Malaysian cues.

In the non-edible segment, castorseeds bold and castor oil commercial moved down owing to weak demand from shippers and soap manufacturers.

Meanwhile, Linseed oil held steady in the absence of any worthwhile buying activity.

In futures, castorseeds December contract recovered on renewed offtake from exporters and traders.

In the edible segment, Groundnut oil fell by Rs 10 per 10 kg to Rs 1,190 from overnight closing level of Rs 1,200. Refined palmolein inched down by a rupee to Rs 597 per 10 kg as against Rs 598 previously.

 

Turning to non-edible segment, Castorseeds bold moved down by Rs 10 per 100 kg to Rs 3,640 from Rs 3,650 and castor oil commercial went down by Rs 2 per 10 kg to Rs 758 as compared to Rs 760. However, linseed oil closed unchanged at Rs 835 per 10 kg.

Moving to futures, castorseed December contract resumed higher at Rs 3,910 and strengthened further to Rs 3,997 before closing at Rs 3,960 as compared to Rs 3,895 yesterday, disclosing a gain of Rs 65 per tonne.

  

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First Published: Sep 12 2012 | 5:55 PM IST

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