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Refined palmoil declines on lack of demand

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Press Trust of India Mumbai

Groundnut oil continued its stable trend in the absence of market moving factors.

In non-edible, castorseeds bold and castoroil commercial gained further on steady demand from shippers and soap industries. Meanwhile, linseedoil held steady on lack of any worthwhile buying.

In futures, castorseeds prices maintained the uptrend on speculative offtake amidst increased export inquiries.

In the edible-segment, refined palmoil eased by Rs 3 per 10 kg to Rs 582 from Friday's closing level of Rs 585. Groundnut oil closed unchanged at Rs 1,190 per 10 kg.

Turning to non-edible, castorseed bold moved up by Rs 25 per 100 kg to Rs 3,125 from Rs 3,100 and castoroil commercial added by Rs 5 per 10 kg to Rs 655 from Rs 650. Linseedoil ended unaltered at Rs 705 per 10 kg.

 

Moving to futures, castorseed for the September contract resumed slightly lower at Rs 3,270, but later surged to close at Rs 3,310 as compared to Rs 3,273 yesterday, showing a gain of Rs 37 per tonne.

  

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First Published: Jun 16 2012 | 4:05 PM IST

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