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Industrial oil gains on renewed demand

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Press Trust of India Mumbai

Linseeds oil also moved up owing to good demand from paint and allied industries.

Meanwhile, groundnut oil and refined palmolein prices ruled steady in the absence of any worthwhile buying.

In futures, castorseeds surged on heavy speculative demand on the back of higher export enquiries.

In the non-edible segment, castorseeds bold rose by Rs 75 per 100 kg to Rs 3,850 from Tuesday's closing level of Rs 3,775 and Castor oil commercial went up by Rs 15 to Rs 800 per 10 kg from Rs 785. Linseed oil added by Rs 5 per 10 kg to Rs 845 as against Rs 840 yesterday.

 

Moving to edible segment, groundnutoil and refined palmolein prices closed unchanged at Rs 1,190 and Rs 622 per 10 kg respectively.

Turning to futures, castorseeds for the Sept contract opened higher at Rs 4,130 and shot up to close at Rs 4,218 as against Rs 4,098 previously, showing a net gain of Rs 120 per tonne.

  

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First Published: Jul 25 2012 | 5:36 PM IST

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