Linseed oil recovers on renewed demand

MUMBAI: Linseed oil prices recovered in an otherwise lacklustre oils and oilseeds Vashi Wholesale market here today on fresh demand from paint and allied industries.


Meanwhile, groundnut oil and refined palmolein prices fell further due to weak demand from stockist and retailer.

In the non-edible segment, castorseeds bold and castor oil commercial moved down further following lower demand from hippers and soap industries.

In futures market, castorseeds for September contract declined further on speculative sell-off following lower export enquiries.

In the non-edible segment, Linseeds oil climbed by Rs 5 per 10kg to Rs 740 from Tuesday's closing level of Rs 735. Castorseeds bold dropped by Rs 40 per 100kg to Rs 3,500 from Rs 3,540 and castoroil commercial dipped by Rs 8 per 10kg to Rs 730 as against Rs 738 previously.

Moving to edible section, groundnut oil fell by Rs 10 per 10kg to Rs 950 from Rs 960 and Refined palmolein shed Rs 3 per 10kg to Rs 525 as compared to Rs 528 previously.

Turning to futures, Castorseeds September contract resumed slightly lower at Rs 3,795 and dropped further to Rs 3,726 before ending at Rs 3,754 from Rs 3,797 yesterday, showing loss of Rs 43 per tonne.