Firmer with the Dry Spell


THE somewhat prolonged dry spell after the early initial rains seems to have imparted a slightly steadier tendency to the oilseeds market. Bulls have reappeared on the scene and the futures market has turned livelier. Speculative interest has centred on linseed which have been marked up on ideas of a smaller crop of about 3-5 lakh tonnes against the previous season's harvest of 4.15 lakh tonnes. Linseed futures have moved up by about Rs 5 a quintal over the week. With fresh export business in castor oil at a standstill, castor futures have firmed up mainly in sympathy with linseed; the September contract has moved up about Rs 2 per quintal.