Edible oils firm up on renewed demand

Oil barrels
Mumbai, Apr 9: Edible oil prices firmed up at the oils and oilseeds market here today (Apr 9). Groundnut oil moved up on renewed demand from retailers amid poor arrivals from producing belts.

Refined palmolein hardened due to good buying support from retailers coupled with higher Malaysian advices.

Castorseeds bold and castoroil commercial also rose further on sustained enquiries from shippers and soap manufacturers.

Meanwhile, castorseeds futures declined on poor export orders. Linseed oil closed unchanged in the absence of market moving factors.

In the edible oil section, groundnut oil moved up by Rs 5 per 10 kg to Rs 815 from yesterday's closing level of Rs 810 and refined palmolein also looked up by Rs 5 per 10 kg to Rs 568 from Rs 563 previously.

In the non-edible oil section, castorseeds bold firmed up by Rs 15 per 100 kg to Rs 5,515 from the overnight closing level of Rs 5,500 and castoroil commercial edged up by Rs 3 per 10 kg to Rs 1,133 as against Rs 1,130 previously. However, linseed oil ruled steady at Rs 650 per 10 kg.

In the futures section, castorseeds for June delivery resumed higher at Rs 5,370 and advanced further to Rs 5,385, but later it declined to close at Rs 5,307 as against Rs 5,361 previously, showing a loss of Rs 54 per tonne.


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