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Linseed oil surge on persistant demand

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Press Trust of India Mumbai

While, castorseeds bold and castoroil commercial both eased on reduced demand from shippers and soap manufacturers.

In the edible-segment, groundnut oil firmed up further on rising demand from stockist and retailers.

Meanwhile, refined palmolein held steady due to lack of any major buying activity.

In futures, castorseeds prices witnessed profitselling by speculators after its recent surge following subdued export enquiries.

In the non-edible segment, Linseedoil shot up by Rs 40 per 10 kg to Rs 800 from Monday's closing level of Rs 760. However, castorseeds bold moved down by Rs 25 per 100 kg to Rs 3,650 as against Rs 3,675 and castoroil commercial also inched up by Rs 5 per 10 kg to Rs 760 from Rs 765.

 

Turning to edible segment, groundnut oil gained by Rs 5 per 10 kg to Rs 1,195 as against Rs 1,190 previously. Refined palmolein held unchanged at Rs 618 per 10 kg.

In futures, castorseeds for the September contract opened slightly higher at Rs 3,915, but later drifted to Rs 3,820 before settling to close at Rs 3,830 as compared to Rs 3,912 yesterday, showing a loss of Rs 82 per tonne.

  

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First Published: Jul 17 2012 | 5:35 PM IST

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