Groundnut oil recovers on good demand

Groundnut oil prices recovered at the oils and oilseeds market here today on good demand from stockist and retailer on the back of approaching festivities.
Refined palmolein also climbed on sustained retail buying.
In the non-edible segment, castorseeds bold and castor oil commercial ruled stable in the absences of any worthwhile buying activity.
Linseed oil declined following subdued demand from paints and allied industries.
In futures market, castorseeds December contract dropped on speculative selling amidst lower export enquiries.
In the edible segment, groundnut oil shot-up by Rs 20 per 10kg to Rs 860 from Wednesday's closing level of Rs 840 and refined palmolein gained by Rs 5 per 10kg to 580 as against Rs 575 yesterday.

Moving to non-edibles, Linseed oil fell by Rs 5 per 10kg to Rs 750 from Rs 755. However, castorseeds bold and castoroil commercial closed unchanged at Rs 3,450 per 100kg and Rs 720 per 10kg, respectively.
Turning to futures, castorseeds December contract resumed lower at Rs 3,740 and drifted to Rs 3,709 before finishing at Rs 3,714 from Rs 3,765 previously, showing net loss of Rs 51 per tonne.