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Refined palmolein declines on lower demand

Press Trust of India  |  Mumbai 

Meanwhile, groundnutoil maintained a steady in the absence of market moving factors.

Linseed oil prices dropped owing to subdued demand from paints and allied industries.

Castorseeds bold and castoroil commercial fell owing to stockist selling amidst subdued demand from shippers and soap manufactures.

In futures trade, castorseeds continued to slump on the back of heavy unwinding by speculators.

In the edible section, refined palmolein eased by Rs 4 per 10 kg to Rs 606 from Wednesday's closing level of Rs 610. Groundnutoil closed unchanged at Rs 1,220 per 10 kg.

Moving to non-edible segment, Castorseeds bold slumped by Rs 175 per 100 kg to Rs 3,950 from Rs 4,125, castoroil commerical slid by Rs 35 per 10 kg to Rs 820 from Rs 855 and linseedoil slipped by Rs 10 per 10 kg to Rs 830 as against Rs 840 previously.

Turning to futures, castorseeds September contract opened weak at Rs 4,420 and declined further to 4,365 before closing at Rs 4,385 from Rs 4,468 yesterday, disclosing fall of Rs 83 per tonne.


First Published: Thu, August 09 2012. 18:06 IST