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Groundnut oil recovers on renewed demand

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Press Trust of India Mumbai

Refined palmolein also edged up on owing fresh retail demand amidst higher Malayasian cues.

In the non-edible section, castorseed bold and castor oil commercial rose due to good demand from shippers and soap industries.

Linseed oil advanced further following persistent demand from paints and allied industries.

In futures, castorseeds gained on steady demand amid rising export enquiries.

In edible segment, groundnut oil went up by Rs 5 per 10 kg to Rs 1,130 from Wednesday closing level of Rs 1,125. Refined palmolein inched up by Rs 2 per 10kg to Rs 518 from Rs 516.

In non-edible segment, Castorseeds bold climbed by Rs 50 per 100 kg to Rs 3,525 from Rs 3,475 and castor oil commercial also added by Rs 10 per 10 kg to Rs 735 from Rs 725. Linseed gained by Rs 5 per 10 kg to Rs 795 from Rs 790.

 

Turning to futures, castorseed December contract resumed higher at Rs 4,000 and moved in a range of Rs 4,020 and 3,980 before closing at Rs 4,001 as against Rs 3,965 previously, showing a gain of Rs 36 per tonne.

  

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First Published: Oct 18 2012 | 5:35 PM IST

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