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Palmolein, groundnut oil prices rise on high demand

Press Trust of India  |  New Delhi 

In restricted activity, prices of palmolein and groundnut oils went up at the wholesale and oilseeds market during the week on pick-up in demand from retailers.

Castor oil, in the non-edible section, also strengthened on increased offtake by consuming industries.



Traders said increased demand from retailers against tight stocks position on restricted supplies from producing regions mainly led to the rise in palmolein and groundnut prices.

They said, however, volume of business remained thin due to tight fund positions following the government's surprise move, banning 500 and 1,000 rupee currency notes in a bid to flush out black money.

In the national capital, palmolein (rbd) and palmolein (Kandla) shot up by Rs 150 each to Rs 5,850 and Rs 5,900 per quintal, respectively.

Groundnut mill delivery (Gujarat) rose by Rs 100 to Rs 10,100 per quintal. Groundnut solvent refined followed suit and traded higher by Rs 50 to Rs 1,750-1,850 per tin.

Elsewhere, other edible oils moved in a narrow range in scattered deals and pegged at the last levels.

In the non-edible section, castor rose by Rs 50 to Rs 9,750-9,850, while linseed remained steady at Rs 9,900 per quintal, respectively.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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Palmolein, groundnut oil prices rise on high demand

In restricted activity, prices of palmolein and groundnut oils went up at the wholesale oil and oilseeds market during the week on pick-up in demand from retailers. Castor oil, in the non-edible section, also strengthened on increased offtake by consuming industries. Traders said increased demand from retailers against tight stocks position on restricted supplies from producing regions mainly led to the rise in palmolein and groundnut oil prices. They said, however, volume of business remained thin due to tight fund positions following the government's surprise move, banning 500 and 1,000 rupee currency notes in a bid to flush out black money. In the national capital, palmolein (rbd) and palmolein (Kandla) shot up by Rs 150 each to Rs 5,850 and Rs 5,900 per quintal, respectively. Groundnut mill delivery (Gujarat) oil rose by Rs 100 to Rs 10,100 per quintal. Groundnut solvent refined followed suit and traded higher by Rs 50 to Rs 1,750-1,850 per tin. Elsewhere, other edible oils ... In restricted activity, prices of palmolein and groundnut oils went up at the wholesale and oilseeds market during the week on pick-up in demand from retailers.

Castor oil, in the non-edible section, also strengthened on increased offtake by consuming industries.

Traders said increased demand from retailers against tight stocks position on restricted supplies from producing regions mainly led to the rise in palmolein and groundnut prices.

They said, however, volume of business remained thin due to tight fund positions following the government's surprise move, banning 500 and 1,000 rupee currency notes in a bid to flush out black money.

In the national capital, palmolein (rbd) and palmolein (Kandla) shot up by Rs 150 each to Rs 5,850 and Rs 5,900 per quintal, respectively.

Groundnut mill delivery (Gujarat) rose by Rs 100 to Rs 10,100 per quintal. Groundnut solvent refined followed suit and traded higher by Rs 50 to Rs 1,750-1,850 per tin.

Elsewhere, other edible oils moved in a narrow range in scattered deals and pegged at the last levels.

In the non-edible section, castor rose by Rs 50 to Rs 9,750-9,850, while linseed remained steady at Rs 9,900 per quintal, respectively.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Palmolein, groundnut oil prices rise on high demand

In restricted activity, prices of palmolein and groundnut oils went up at the wholesale and oilseeds market during the week on pick-up in demand from retailers.

Castor oil, in the non-edible section, also strengthened on increased offtake by consuming industries.

Traders said increased demand from retailers against tight stocks position on restricted supplies from producing regions mainly led to the rise in palmolein and groundnut prices.

They said, however, volume of business remained thin due to tight fund positions following the government's surprise move, banning 500 and 1,000 rupee currency notes in a bid to flush out black money.

In the national capital, palmolein (rbd) and palmolein (Kandla) shot up by Rs 150 each to Rs 5,850 and Rs 5,900 per quintal, respectively.

Groundnut mill delivery (Gujarat) rose by Rs 100 to Rs 10,100 per quintal. Groundnut solvent refined followed suit and traded higher by Rs 50 to Rs 1,750-1,850 per tin.

Elsewhere, other edible oils moved in a narrow range in scattered deals and pegged at the last levels.

In the non-edible section, castor rose by Rs 50 to Rs 9,750-9,850, while linseed remained steady at Rs 9,900 per quintal, respectively.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

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