Linseed oil rises on good demand

Prices of linseed oil moved up in the oils and oilseeds market here today on good demand from the paint industry. Refined palmolein edged up on mild buying support coupled with higher Malaysian advices.

Meanwhile, castorseeds futures fell due to poor export enquiries. However, groundnut oil, castorseeds bold and castoroil commercial closed unchanged in the absence of market-moving factors.

In the non-edible oils section, linseed oil rose by Rs 5 to Rs 510 per 10 kg from yesterday's closing level of Rs 505.

Castorseeds bold and castoroil commercial both held steady at Rs 3,285 per quintal and Rs 687 per 10 kg respectively.

In the futures section, castorseed's August contract resumed lower at Rs 3,275 per quintal and declined further to Rs 3,250 before settling at Rs 3,257 from Rs 3,281 previously, translating into a loss of Rs 24.

In the edible oils section, refined palmolein inched upward to Rs 407 per 10 kg from Rs 406. Groundnut oil closed unchanged at Rs 705 per 10 kg.