Edible oils firm up on better demand

Groundnut oil prices rose modestly at the oils and oilseeds market here today due to renewed demand from retail consumers amid restricted arrivals. 

Refined palmolein also edged higher on good domestic offtake coupled with higher Malaysian advices.

Castorseeds bold and castoroil commercial strengthened further owing to increased demand from shippers and soap industries. Meanwhile, castorseeds futures fell back on speculative selling.  

Linseed oil closed stable in the absence of necessary buying support.  

In the edible segment, groundnut oil moved up by Rs 5 per 10 kg to Rs 835 from overnight closing level of Rs 830 and refined palmolein looked up by Rs 2 per 10 kg to Rs 565 as against Rs 563 previously. 

Turning to non-edible section, castorseeds bold went up by Rs 25 per 100 kg to Rs 5,090 from Rs 5,065 and castor oil commercial also gained by Rs 5 per 10 kg to Rs 1,048 as compared to Rs 1,043 yesterday.

Linseed oil held steady at Rs 655 per 10 kg.  

Moving to futures section, castorseeds for June delivery resumed higher at Rs 4,800 and hovered between Rs 4,842 and Rs 4,765 before ending at Rs 4,780 against Monday's closing Rs 4,790, showing a marginal fall of Rs 10 per tonne.