Linseed oil shoots up on good demand

Linseed oil prices rose sharply at the oils and oilseeds market here today on good inquiries from paint industry amid poor arrivals from producing belts.

Meanwhile, castorseeds bold and castor oil commercial moved down due to lack of enquiries from soap manufacturers. Castorseeds futures dropped due to sustained offloading from traders on spot market trend.

Refined palmolein also declined owing to poor offtake, while groundnut oil ruled steady in the absence of market moving factors.

In the non-edible oil section, linseed oil spurted by Rs 15 per 10 kg to Rs 690 from Friday's closing level of Rs 675.

Castorseeds bold moved down by Rs 25 per 100 kg to Rs 5,125 from Rs 5,150 and castor oil commercial moved down by Rs 5 per 10 kg to Rs 1,055 as compared to Rs 1,060, previously.

Turning to edible oil section, refined palmolein fell by Rs 4 per 10 kg to Rs 580 as against Rs 584 yesterday. Groundnut oil closed unaltered at Rs 870 per 10 kg.

Moving to futures section, castorseeds for June delivery resumed lower at Rs 4,801 and declined further to close at Rs 4,726 from Rs 4,807 previously, showing a sharp fall of Rs 81 per tonne.