Oils and Oilseeds: Groundnut oil weakens further,
Oils and Oilseeds: Groundnut oil weakens further, refined palmolein rules steady, while castorseeds bold and castoroil commercial recovers, linseeds oil held stable trend at the oils and oilseeds market during the truncated week under the review.
Groundnut oils witnessed downtrend for the third straight week following reduced demand from stockists and retailers amidst ample supply from producing region.
Refined palmolein ruled steady in absence of any worthwhile buying activity.
Castorseeds bold and castoroil commercial prices rebounded modestly owing to renewed demand from soaps and shippers industries.
Linseeds oil continued its steady trend in absence of any worthwhile buying activity.
In the edible section, groundnut oil opened steady at Rs 870 and later eased further to Rs 850 before finishing at Rs 860 from previous weekends level of Rs 870, revealing a loss of Rs 10 per 10kg.
Refined palmolein resumed higher at Rs 637 and later edged down further to Rs 633 before concluding at its previous weekends level of Rs 634.
Turning to non-edible segment, castorseeds bold opened lower to Rs 4,265 and later rose to ended at Rs 4,300 from last weekends closing level of Rs 4,275, showing a gains of Rs 25 per 100kg.
Castoroil commercial also commenced lower to Rs 883 and later went-up to settled at Rs 890 as against last Saturdays closing level of Rs 885, showing a gains of Rs 5 per 10kg.
Linseeds oil opened steady to Rs 800 and later moved up to Rs 810 before finished at its previous closing level of Rs 800. PTI BPD