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Groundnut oil gains on fresh demand

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Press Trust of India Mumbai

Refined palmolein declined further owing to weak retail buying.

In non-edible, castorseeds bold, castoroil commercial and linseeds oil held steady in the absence of any major buying.

In futures, castorseeds again witnessed a divergent trend with June contract gained higher on better export offtake while, September contract dropped on speculative selling on lower export enquiries.

In the edible-segment, Groundnut oil gained by Rs 5 per 10 kg to Rs 1,175 from Monday's closing level of Rs 1,170, while refined palmolein dropped by Rs 4 per 10 kg to Rs 612 per 10 kg from Rs 616.

Turning to futures, castorseed for the June contract resumed higer at Rs 3,040, later moved down to Rs 3,022 before closing at Rs 3,199 against Rs 3,035 previously, showing a sharp gain of Rs 164 per tonne.

 

The September contract also opened higher at Rs 3,204, later drifted further to settled at Rs 3,170 from Rs 3,198 previously, disclosing a fall of Rs 28 per tonne.

Moving to non-edible section, castorseeds bold, castoroil commercial and linseed oil all closed unchanged at Rs 3,125, Rs 655 and Rs 710 respectively.

  

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First Published: Jun 06 2012 | 4:16 AM IST

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