Business Standard

Industrial oils spurt on heavy demand

Image

Press Trust of India Mumbai

Refined palmoil prices also gained on good retail offtake amidst bullish Malaysian advices.

Meanwhile, groundnut oil and linseed oil ruled steady in the absence of market moving factors.

In futures, castorseeds prices strengthened further on persistant demand amidst rising export orders.

In the non-edible-section, castorseed bold spiked by Rs 130 per 100 kg to Rs 3,245 from Monday's closing level of Rs 3,115 and castor oil commercial climbed by Rs 26 per 10 kg to Rs 679 from Rs 653. Linseedoil closed unchanged at Rs 705 per 10 kg.

Turning to edible-segment, refined palmoil rose by Rs 3 per 10 kg to Rs 587 from Rs 584. Groundnut oil remained stable at Rs 1,190 per 10 kg.

 

Moving to futures, castorseed for the September contract resumed higher at Rs 3,450 and surged to close at Rs 3,504 as against Rs 3,400 yesterday, showing a sharp gain of Rs 104 per tonne.

  

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

First Published: Jun 19 2012 | 5:36 PM IST

Explore News