Linseed oil spurts on good demand

Linseed oil spurted at the oils and oilseeds market here today due to good demand from paint and allied industries.  

While, castorseeds bold and castoroil commercial moved down slightly on subdued offtake from shippers and soap industries. Castorseeds futures also declined on reduced export enquiries amidst weak spot demand.

In edible segment, refined palmolein edged up owing to fresh retail demand. Meanwhile, groundnut oil maintained a stable trend in the absence of market moving factors.

In non edible section, linseed oil rose by Rs 10 per 10 kg to Rs 720 from last Saturday's closing level of Rs 710.

Castorseed bold eased by Rs 5 per 100 kg to Rs 5,160 from Rs 5,165 and castor oil commercial softened to Rs 1,062 as against Rs 1,063 per 10 kg previously.

Turning to edible oil segment, refined palmolein edged up by Rs 2 per 10 kg to Rs 551 from last weekend closing level of Rs 549. Groundnut oil closed unchanged at Rs 965 per 10 kgs.

Moving to futures section, castorseeds for September delivery opened sharply higher at Rs 5,080 and advanced further to Rs 5,100 before drifting to close lower at Rs 5,039 from previous closing level of Rs 5,062, showing a loss of Rs 23 per tonne.