Monday, November 29, 1999

Groundnut oil rises on higher offtake

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Mumbai, June 16 (PTI) Groundnut oil prices rose further at the oils and oilseeds market here today due to good domestic demand coupled with renewed buying from stockists and retailers. Fall in supplies from the key producing regions also influenced the rise in prices. Castorseeds futures also firmed up on sustained export order. Elsewhere, refined palmolein, linseed oil, castorseeds bold and castoroil commercial moved in a narrow range on alternate bouts of trading, closed at their overnight levels in the absence of necessary buying support. In the edible segment, groundnut oil hardened further by Rs 15 per ten kilo to Rs 725 from Tuesday''s closing level of Rs 710. Refined palmolein closed unchanged at Rs 404 per ten kilo. Turning to futures section, castorseed''s August contract resumed higher at Rs 3,256 and strengthened further to touch a high of Rs 3,277 before closing at Rs 3,269, from yesterday''s closing level of Rs 3,245, showing a further rise of Rs 24 per metric tonne. Moving to non-edible section, linseed oil, castorseeds bold and castoroil commercial, all closed unaltered at Rs 500, Rs 3,295 and Rs 689 respectively.

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