Groundnut oil recovers modestly on renewed demand

Groundnut oil prices recovered modestly in an otherwise sluggish oils and oilseeds Vashi Wholesale market here today on renewed month-end demand from stockist and retailers.
Refined palmolein slipped further following lower retail offtake.
In the non-edible segment, castorseeds bold and castor oil commercial declined owing the lack of demand from shippers and soap manufacturers.
Linseeds oil held steady in the absence of any worthwhile buying.
In futures market, castorseeds for September contract fell further on speculative sell-off in the absence of export enquiries.
In the edible segment, Groundnut oil moved up by Rs 5 per 10kg to Rs 935 from Thursday's closing level of Rs 930. However, refined palmolein eased by Rs 2 per 10kg to Rs 528 from overnight closing level of Rs 530.

Moving to non-edible section, castorseeds bold fell by Rs 15 per 100 kg to Rs 3,485 from Rs 3,500 and castoroil commercial slipped by Rs 3 per 10kg to Rs 727 from Rs 730. Linseeds oil closed unchanged at Rs 735 per 10kg.
Turning to futures, Castorseeds September contract resumed lower at Rs 3,720 and dipped further to end at Rs 3,663 from Rs 3,734 previously, showing fall of Rs 71 per tonne.