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Groundnut oil firm up on rising demand

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Press Trust of India Mumbai

While, refined palmolein declined due to reduced retail buying support.

In non-edible segment, castorseeds bold and castoroil commercial moved down further owing to lower demand from shippers and soap manufactures.

Linseeds oil recovered modestly on fresh demand from paints and allied industries.

Castorseeds futures slid further following speculative sell-off due to lack of export enquiries.

In the edible section, Groundnutoil surged by Rs 10 per 10kg to Rs 1,170 from Thursday's closing level of Rs 1,160. Refined palmolein fell by Rs 4 per 10kg to Rs 518 from Rs 522.

Moving to non-edible segment, castorseeds bold went down by Rs 25 per 100 kg to Rs 3,475 from Rs 3,500 and castoroil commercial slipped by Rs 5 per 10kg to Rs 725 from Rs 730. Linseed oil gained by Rs 5 per 10kg to Rs 815 as compared to Rs 810 yesterday.

 

Turning to futures, castorseed December contract resumed lower at Rs 3,680 and drifted lower to Rs 3,604 before ending at Rs 3,621 as compared to Rs 3,699 previously, showing a net fall of Rs 78 per tonne.

  

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First Published: Nov 02 2012 | 5:35 PM IST

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