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Groundnutoil declines on reduced demand

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Press Trust of India Mumbai

On the other hand, refined palmolein gained further on good retail buying on the back of higher Malaysian cues.

Meanwhile, castorseeds bold, castoroil commercial and linseedoil all closed stable owing to lack of any worthwhile buying.

In futures, castorseeds eased on selling pressure following subdued export enquiries.

In the edible-section, groundnutoil fell by Rs 10 per 10 kg to Rs 1,175 from Monday's closing level of Rs 1,185. While, refined palmolein rose by Rs 4 per 10 kg to Rs 632 from Rs 628 previously.

Moving to futures, castorseed for the June contract resumed slightly higher at Rs 3,150, but later drifted lower to close at Rs 3,117 as compared to Rs 3,145 previously, showing a loss of Rs 28 per tonne.

 

The new September contract opened smartly at Rs 3,313 however, moved down to Rs 3,277 before settling at Rs 3,290.

However, castorseeds bold, castoroil commercial and linseedoil all ruled steady at Rs 3,190, Rs 668 and Rs 710 respectively.

  

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First Published: May 29 2012 | 5:55 PM IST

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