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Groundnut oils slump on heavy stockists selling

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Press Trust of India Mumbai

Refined palmolein also edged down further on lack of retail buying support.

In the non-edible segment, castorseeds bold and castor oil commercial continued its downtrend owing to absence of demand from shippers and soap manufacturers.

Meanwhile, linseed oil held steady on lack of any major buying activity.

In futures, castorseeds both September and December contract slid on selling pressure amid subdued export inquiries.

In the edible segment, groundnut oil fell by Rs 30 per 10 kg to Rs 1,200 from last Saturday's closing level of Rs 1,230. Refined palmolein moved down by Rs 2 per 10 kg to Rs 600 as against Rs 602.

 

Turning to non-edible segment, Castorseeds bold declined by Rs 50 per 100 kg to Rs 3,650 from Rs 3,700 and castoroil commercial went down by Rs 10 per 10 kg to Rs 760 as compared to Rs 770. However, linseed oil closed unchanged at Rs 830 per 10 kg.

Turning to futures, castorseed September contract resumed lower at Rs 3,750 and drifted further to close at Rs 3,695 from Rs 3,765 last weekend, showing a loss of Rs 70 per tonne. While, December contract opened weak at Rs 4,111 and declined to end at Rs 4,000 as compared to Rs 4,150 last Friday, showing a fall Rs 150 per tonne.

  

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First Published: Sep 10 2012 | 5:45 PM IST

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