Groundnut oil declines on lack of demand
Prices of groundnut oil declined in an otherwise mixed oils and oilseeds market on Tuesday on lack of demand from retailers.
By PTI |
MUMBAI: Prices of groundnut oil declined in an otherwise mixed oils and oilseeds market here on Tuesday on lack of demand from retailers.
Castorseeds futures reacted downwards on poor export enquiries.
However, castorseeds bold and its oil both looked up further on sustained enquiries from shippers and soap manufacturers.
In the edible section, groundnut oil dropped by Rs 5 to Rs 650 from Rs 655 previously while refined palmolein inched up to Rs 510 from Rs 509.
In the futures section, castorseeds February contract resumed lower at Rs 2,259 and dropped further to Rs 2,241 before closing at Rs 2,245 against the yesterday's closing level of Rs 2,264, showing a loss of Rs 19.
Turning to the non-edible section, castorseeds bold and castoroil commercial both moved up to Rs 2,320 and Rs 494 respectively against Rs 2,315 and Rs 493 previously. Linseed oil, however ruled steady at Rs 625.
Castorseeds futures reacted downwards on poor export enquiries.
However, castorseeds bold and its oil both looked up further on sustained enquiries from shippers and soap manufacturers.
In the edible section, groundnut oil dropped by Rs 5 to Rs 650 from Rs 655 previously while refined palmolein inched up to Rs 510 from Rs 509.
In the futures section, castorseeds February contract resumed lower at Rs 2,259 and dropped further to Rs 2,241 before closing at Rs 2,245 against the yesterday's closing level of Rs 2,264, showing a loss of Rs 19.
Turning to the non-edible section, castorseeds bold and castoroil commercial both moved up to Rs 2,320 and Rs 494 respectively against Rs 2,315 and Rs 493 previously. Linseed oil, however ruled steady at Rs 625.
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