Edible oil prices firm up on good demand

Prices of groundnut oil firmed up at the oils and oilseeds market here today due to increased demand from retailers coupled with restricted arrivals from producing belts.

Refined palmolein moved up on fresh buying support from retailers amidst highe Malaysian advices. Castorseeds bold and castor oil commercial edged up on good enquiries from shippers and soap manufacturers. 

Castorseeds futures improved further on sustained export orders. Linseed oil, however held steady in absence of market moving factors.

In the edible segment, groundnut oil gained by Rs 5 per 10 kg to Rs 840 from overnight closing level of Rs 835 and refined palmolein edged up by Rs 3 per 10 kg to Rs 575 from Rs 572 previously.

Turning to non-edible oil section, castorseeds bold advanced by Rs 5 per 100 kg to Rs 5,110 from Rs 5,105 and castor oil commercial inched up to Rs 1,052 per 10kg as against Rs 1,051 yesterday.

Linseed oil closed unchanged at Rs 655 per 10 kg.

Moving to futures section, castorseeds for June delivery resumed slightly higher at Rs 4,811 and moved up further to close at Rs 4,816 from Friday's close of Rs 4,810, showing marginal gain of Rs 6 per tonne.