Groundnut oil recovers, industrial oils flare up

Written by: Pti
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Mumbai, Jan 19 (PTI) Groundnut oil prices recoveredsmartly in a fairly active oils and oilseeds market here todaydue to fresh demand from stockists amidst bouyant consumerbuying.

While, refined palmolein softened on subdued retailofftake.

Castorseed bold and castoroil commercial continued tosurge on strong demand from exporters as well as industrialdemand.

Linseedoil prices rose owing to renewed buying frompaint and allied industries.

Castorseeds futures markets also witnessed strong rallyon the back intense speculative buying as well as sustainedexport orders.

In the edible-oil section, Groundnut oil spurted byRs 10 per 10 kgs to Rs 770 from Tuesday''s closing level of Rs760. However, refined palmolein looked down to Rs 579 per 10kg from Rs 580 previously.

Turning to non-edible section, castorseeds bold jumpedby Rs 200 per 100 kgs to Rs 5,125 from Rs 4,925 and castoroilcommercial shot up by Rs 40 to Rs 1,055 per 10 kgs from Rs1,015 yesterday.

Linseed oil also gained by Rs 10 per 10 kg to Rs 710 fromRs 700 previously.

Moving to futures section, castorseeds for March deliveryresumed higher at Rs 3,980 and hardened further to Rs 4,092before settling at Rs 4,078 as against Rs 3,955 yesterday,showing a steep hike of Rs 123 per tonne.

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