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Groundnut oil strengthens on steady demand

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Press Trust of India Mumbai

Refined palmolein edged up on sustained retail demand.

In the non-edible section, castorseeds bold and castor oil commercial gained modestly following renewed demand from shippers and soap industries.

Linseed oil ruled steady in the absence of any worthwhile buying.

In futures, castorseeds surged on hectic speculative offtake following consistent export enquiries.

In the edible segment, Groundnut oil climbed by Rs 10 per 10 kg to Rs 1,110 from Monday's closing level of Rs 1,100. Refined palmolein also added by Rs 2 per 10kg to Rs 515 from Rs 513.

Turning to non-edible segment, Castorseeds bold moved up by Rs 25 per 100 kg to Rs 3,425 from Rs 3,400 and castor oil commercial went up by Rs 5 per 10 kg to Rs 715 as against Rs 710 yesterday. Linseed closed unchanged at Rs Rs 775 per 10 kg.

 

Moving to futures, castorseed December contract resumed higher at Rs 3,750 and shot up to close at Rs 3,825 from Rs 3,721 previously, showing a net gain of Rs 104 per tonne.

  

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First Published: Oct 09 2012 | 5:35 PM IST

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