Business Standard

Industrial oils rise on renewed demand

Image

Press Trust of India Mumbai

Linseedoil also gained on sustained demand from paint and allied industries.

Meanwhile, refined palmolein eased further owing to sluggish demand from retailers amidst bearish Malaysian cues.

Groundnutoil ruled stable in the absence of any worthwhile buying.

In futures, castorseeds prices advanced smartly due to heavy speculative demand amidst increased export enquiries, supported higher physical spot markets.

In the non-edible segment, castorseeds bold surged by Rs 75 per 100 kg to Rs 3,325 from Wednesday's closing level of Rs 3,250 and castoroil commercial advanced by Rs 15 per 10 kg to Rs 695 from Rs 680. Linseedoil also went up by Rs 5 per 10 kg to Rs 750 from Rs 745 yesterday.

 

Turning to edible segment, refined palmolein edged down by Rs 2 per 10 kg to Rs 613 as compared to Rs 615 previously. Groundnutoil ended stable at Rs 1,180 per 10 kg.

In futures, castorseeds for the September contract opened lower at Rs 3,510, but later shot up to to finish at Rs 3,610 as against Rs 3,522 previously, showing a sharp gain of Rs 88 per tonne.

  

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jul 12 2012 | 6:35 PM IST

Explore News