Groundnut oil gains on fresh demand

Posted By: Pti
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Mumbai, Feb 25 (PTI) Groundnut oil prices firmed up atthe oils and oilseeds market here today on renewed buyingfrom stockists as well as good retail offtake.

On the other hand, refined palmolein continued to fall onlower domestic demand coupled with adequate stock positions.

Linseed oil dropped on the back of sluggish demand frompaint and allied industries.

Castorseeds futures market remained weak on sustainedselling from speculators and traders.

Meanwhile, castorseeds bold and castoroil commercialrecovered owing to fresh demand from shippers and soapindustries.

In the edible oil segment, groundnut oil moved up by Rs 5per 10 kg to Rs 755 from Thursday''s closing level of Rs 750,while refined palmolein looked down by Rs 2 per 10 kg to Rs569, against Rs 571 in the previous session.

Turning to non-edible section, linseed oil slipped by Rs15 per 10 kg to Rs 670 from overnight closing level of Rs 685.

However, castorseeds bold rose by Rs 50 per 100 kg to Rs5,800 from Rs 5,750 and castoroil commercial higher by Rs 10per 10 kg to Rs 1,190 as compared to Rs 1,180 yesterday.

Moving to futures section, castorseeds for March deliveryresumed slightly higher at Rs 5,263 and moved in a range of Rs5,320 and Rs 5,205 before closing at Rs 5,215, disclosing aloss of Rs 46 per tonne.

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