Refined palmolein slips on lower demand

Feb 23, 2013 |

mumbai

Refined palmolein slipped in an otherwise mute oils and oilseeds market here today on reduced demand from retailers. Meanwhile, groundnutoil, castorseeds bold, castoroil commercial and linseedoil all held steady in the absence of any largescale buying activity.

In the futures market, castorseeds eased further owing to speculative selling amidst lower export enquiries. In the edible section, refined palmolein edged down by Rs 2 per 10kg to Rs 516 from Friday’s close of Rs 518. Groundnutoil closed unaltered at Rs 1,245 per 10 kg.

Moving to futures, castorseed March contract resumed slightly lower at Rs 3,715 and drifted further to Rs 3,682 before ending at Rs 3,697 from Rs 3,712 previously, showing a modest loss of Rs 15 per tonne.

Turning to non-edible section, however, castorseeds bold, castoroil commercial and linseedoil all closed unchanged at Rs 3,575 per 100 kg, Rs 745 per 10 kg and 870 per 10 kgs, respectively.

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