Edible oils rallies on stockists buying support

Posted By: Pti
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Mumbai, Feb 02 (PTI) Groundnutoil rose at the oils andoilseeds market here today due to fresh demand from stockistsand retailers in view of forthcoming festivities.

Refined palmolein rallied further on good buying supportamidst higher Malaysian advices.

Castorseed bold and castoroil commercial surged onsustained demand from shippers and soap industries.

Castorseed futures also hardened owing to heavyspeculative demand on the back of rising export orders.

In the edible section, refined palmolein strengthened byRs 12 per 10 kg to Rs 607 from Tuesday''s closing level of Rs595 and groundnut oil moved up by Rs 5 per 10 kg to Rs 765 asagainst Rs 760.

Turning to non-edible section, castorseed bold jumped byRs 150 per 100 kg to Rs 5,550 from overnight closing levelof Rs 5,400 and castor oil commercial also went up by Rs 30per 10 kg to Rs 1,140 as against Rs 1,010 previously.

Linseedoil held stable at Rs 710 per 10 kg.

Moving to futures section, castorseeds for March deliveryresumed higher at Rs 4,585 and shot up to close at Rs 4,686as compared to Rs 4,554 yesterday, showing a sharp rise of Rs132 per tonne.

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