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Groundnut oil rise on renewed offtake

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Press Trust of India Mumbai

Refined palmolein also gained on good retail buying support.

In the non-edible section, castorseed bold and castoroil commerical prices advanced sustained demand from shippers and soap industries.

Meanwhile, linseed oil held steady in the absence of any major buying.

In the futures, castorseeds March contract shot up on consistent demand following rising export enquiries.

In the edible section, groundnutoil climbed Rs 5 per 10 kg to RS 1,255 from overnight close of Rs 1,250 and refined palmolein edged-up by Rs 2 per 10kg to Rs 475 from Rs 473.

Turning to non-edible segment, castorseeds bold surged by Rs 75 per 100 kg to Rs 3,600 from Friday's close of Rs 3,525 and castor oil commercial moved up by Rs 15 per 10 kg to Rs 750 from Rs 735. Linseed oil close unchanged at Rs 815.

 

Moving to futures, castorseed March contract resumed sharply higher at Rs 3,955 and gained further to close Rs 4,012 as against Rs 3,893 previously, showing net rise of Rs 119 per tonne.

  

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First Published: Dec 15 2012 | 3:35 PM IST

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