Edible oils improve further on sustained demand

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Asian Trade
Mumbai, Mar 19: Groundnut oil prices moved up further at the oils and oilseeds market here today on sustained demand from retailers, amid festive demand.

Refined palmolein gained due to renewed buying support from retailers coupled with higher Malaysian advices. Castorseeds futures also recovered smartly on fresh demand from exporters.

Meanwhile, castorseeds bold, castoroil commercial and linseed oil all closed unaltered on lack of worthwhile buying activity.

In the edible oil segment, Groundnutoil moved up by Rs 5 per 10 kg to Rs 750 from Friday's closing level of Rs 745 and refined palmolein also advanced by Rs 5 per 10 kg to Rs 568 from Rs 563 previously.

Turning to futures section, castorseeds for Jun delivery resumed higher at Rs 4,603 and spurted further to close at Rs 4,690 as compared to Rs 4,594 yesterday, showing a smart rise of Rs 96 per tonne.

However, Castorseeds bold, castoroil commercial and linseed oil all ended unchanged at Rs 5,125, Rs 1055 and Rs 660 respectively.

PTI

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