Edible oils recover on renewed demand

Groundnut oil prices rose at the oils and oilseeds market here today due to fresh stockist and retail demand. Refined palmolein also moved up on good consumer demand on the back higher Malaysian cues.

Meanwhile, castorseeds bold and castor oil commercial and linseed oil held steady in the absence of any worthwhile buying. In futures market, castorseeds eased on a limited trading amidst poor export enquiries.  

In the edible segment, groundnut oil went up by Rs 5 per 10 kg to Rs 960 from Tuesday's closing level of Rs 955 and refined palmolein gained by Rs 3 per 10 kg to to Rs 544 as against Rs 541 previously.

Moving to futures section, castorseeds for September delivery resumed lower at Rs 4,880 and traded between Rs 4,925 and Rs 4,875 before settling at Rs 4,910 as compared to Rs 4,915 yesterday, showing a marginal loss of Rs 5 per tonne. 

However, castorseed bold, castor oil commercial and linseed oil all ended stable at Rs 4,900, Rs 1,010 and Rs 720 respectively.