Groundnutoil gain on renewed demand

Mumbai, Feb 4: Groundnutoil prices gained in a fairly active oils and oilseeds market here today due to fresh stockists buying amidst good retail offtake. While, refined palmolein held steady owing to lack of any worthwhile buying activity.

Castorseeds bold and castoroil commercial rose following renewed enquiries from shippers and soap industries. In the futures market, castorseed prices advanced on good speculative buying amidst increased export orders.

In the edible oil section, groundnut went up by Rs 5 per 10 kgs to Rs 1,035 from Friday's closing level of Rs 1,030. Refined palmolein closed unchanged at Rs 558 per 10 kgs. Turning to non-edible section, castorseeds bold climbed by Rs 75 per 100 kg to Rs 3,450 from overnight closing level of Rs 3,375 and castoroil commercial also added by Rs 15 per 10 kg to Rs 720 from Rs 705.

Linseed oil were unaltered at Rs 785 per 10 kg. Moving to futures section, castorseed for March contract resumed higher at Rs 3,500 and traded between Rs 3,515 and Rs 3,490 before closing at Rs 3,515, showing a further rise of Rs 35 per tonne from its previous close Rs 3,480.

PTI