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Refined palmolein slides on poor demand

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Press Trust of India Mumbai

While, groundnut oil and linseeds oil remained stable in the absence of any major buying activity.

In non-edible, castorseeds bold and castoroil commercial declined due to lack of demand from shippers and soap manufacturers.

In futures, castorseeds maintained its diverse trend with June contract offloading positions on heavy selling pressure in the absence of export orders, while September contract gained modestly on speculative demand due to good export enquiries.

In the edible-segment, refined palmolein fell by Rs 4 per 10 kg to Rs 608 per 10 kg from Tuesday's closing level of Rs 612. Groundnut oil closed unchanged at Rs 1,175 per 10 kg.

 

Turning to non-edible, castorseed bold dipped by Rs 35 per 100 kg to Rs 3,090 from Rs 3,125 yesterday and castoroil commercial went down by Rs 7 to Rs 648 from Rs 655. Linseed oil closed unaltered at Rs 710 per 10 kg.

Moving to futures, castorseed for the June contract resumed lower at Rs 2,985, later advanced to Rs 3,025 before ending at Rs 3,010 as compared to Rs 3,199 previously, showing a steep fall of Rs 189 per tonne.

The September contract also opened lower at Rs 3,160, later rose to Rs 3,206 before finishing at Rs 3,184 from Rs 3,170 yesterday, disclosing a gain of Rs 14 per tonne.

  

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First Published: Jun 06 2012 | 5:55 PM IST

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