Further sharp fall in linseed oil prices

MUMBAI: Prices of linseeds oil dropped sharply on the oils and oilseeds market on Saturday on lack of demand from paint industry.

Refined palmolein also moved down due to poor offtake. In the non-edible section, linseed oil fell by Rs 25 to Rs 725 from Rs 750 previously.

However, castorseeds bold and its oil closed unchanged from the yesterday's closing level of Rs 2780 and Rs 586 respectively.

In the futures section, castorseeds June contract opened lower at 2818 and dropped further to close at Rs 2772 from Rs 2830 previously, showing a loss of Rs 58.

In the edible section, refined palmolein moved down by Rs 3 to Rs 617 from Rs 620 previously while groundnut oil continued to rule steady at Rs 740.