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Palmolein oil slides on tepid demand; groundnut oil edges up

In restricted activity, the wholesale oils and oilseeds market ended on a mixed note during the week as prices of palmolein moved down owing to slackened demand while groundnut oil edged up on scattered demand.

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In restricted activity, the wholesale oils and oilseeds market ended on a mixed note during the week as prices of palmolein moved down owing to slackened demand while groundnut oil edged up on scattered demand.

Linseed oil, in the non-edible section, slipped due to reduced offtake by paint industries.

Markets remained closed on Friday on account of 'Mahashivratri'.

Marketmen said muted demand from vanaspati millers and retailers against ample stocks position kept pressure on palmolein oil prices but mild retailers demand helped groundnut oil to end in positive zone.

In the national capital, palmolein (RBD) and palmolein (Kandla) oils fell by Rs 150 each to Rs 6,000 and Rs 6,050 per quintal, respectively.

However, groundnut mill delivery (Gujarat) oil found some buying support from retailers and finished higher by Rs 100 to Rs 9,800 per quintal.

On the other hand, soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils moved in a narrow range in limited deals and pegged at last week's levels of Rs 6,900 and Rs 6,600 per quintal, respectively.

Mustard expeller (Dadri) and cottonseed mill delivery (Haryana) oils also followed suit and ended flat Rs 8,400 and Rs 6,750 per quintal, respectively.

In the non-edible section, linseed oil declined by Rs 50 to Rs 9,750 per quintal on subdued demand from paint units.

(MORE)

 

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)

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