Linseed oil flares up on heavy demand

Dec 27, 2011 |

mumbai

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Linseed oil prices flared up at the oils and oilseeds market here on Tuesday due to heavy buying by stockist as well as higher enquires from paint industries aimdst restricted arrivals.

Meanwhile, castorseeds bold and castoroil commercial dropped further on subdued demand from shippers and soap industries.

In edible oil segment, refined palmolein hardened owing to good retail offtake, while groundnut oil declined modestly on reduced domestic buying.

In the futures market, castorseeds futures gained marginally better export demand.

In non-edible session, Linseed oil shot up by Rs 25 per 10 kg to Rs 850 from Monday's closing level of Rs 825.

Castorseeds bold slid by Rs 55 per 100 kg to Rs 3,905 from overnight close of Rs 3,960 and castoroil commercial went down by Rs 11 to Rs 811 per 10 kg from 822.

In the edible segment, refined palmolein moved up by Rs 3 per 10 kg to Rs 597 from previous close of Rs 595, while groundnut oil fell by Rs 5 per 10 kg to Rs 990 as against Rs 995

Moving to futures section, castorseed for March delivery resumed lower at Rs 3,580 but later moved up to Rs 3,640 before ending at Rs 3,598 from yesterday close of Rs 3,589, showing a gain of Rs 9 per tonne.

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