Groundnut oil prices gain on renewed demand

Groundnut oil prices gained at the oils and oilseeds market here today on renewed demand from stockist and retailers.
Refined palmolein also edged-up due to stray retail buying support.
In non-edible section, castorseeds bold and castor oil commercial declined owing to subdued demand from shippers and soap manufacturers while linseedoil maintained a steady trend in the absence of any worthwhile buying.
In the futures market, castorseeds slipped further on speculative selling pressure amidst lower export enquiries.
In edible section, groundnutoil climbed by Rs 10 per 10 kg to Rs 1,230 from Thursday's closing level of Rs 1,220. Refined palmolein inched-up by a rupee per 10 kg to Rs 511.

Moving to non-edible section, castorseeds bold declined by Rs 25 per 100 kg to Rs 3,575 from yesterday's closing level of Rs 3,600 and castoroil commercial also moved down by Rs 5 per 10 kg to Rs 745 from Rs 750. Linseedoil closed unchanged at Rs 790 per 10 kg.
Turning to futures, castorseeds June contract resumed slightly higher at Rs 3,860, but later drifted to Rs 3,825 before settling at Rs 3,832 from 3,852 previously, showing a mere loss of Rs 20 per tonne.