Centre reduces basic import duty on edible oils
The decision is expected to augment the earlier measures taken by the government to reduce the prices of edible oils in the domestic market.
Groundnut oil prices gained further at the Vashi oils and oil seeds wholesale market here on Saturday following firm demand from stockists and retailers.
Refined Palmolive also moved up modestly owing to mild demand from retailers.
In the non-edible segment, castorseeds bold and castor oil commercial surged for the third consecutive session due to persistent demand from soaps and shippers industries.
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Linseed oil ruled steady in the absence of any large- scale buying.
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In the edible section, groundnut oil rose by Rs 10 per 10 kg to Rs 900 from Friday’s level of Rs 890 and refined palmolein went up by Rs 2 per 10 kg to Rs 652 from Rs 650.
In the non-edible section, castor seed bold climbed by Rs 15 per 100kg to Rs 4,540 as against Rs 4,525 on Friday and castor oil commercial moved up by Rs 3 per 10kg to Rs 938 as compared Rs 935.
However, linseed oil ended unaltered at Rs 750 per 10kg.
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