Further rise in edible oil prices on persistent demand

Groundnut oil prices moved up further at the oils and oilseeds market here today due to persistent buying from retailers amidst poor arrivals from producing belts."

Refined palmolein improved further owing to renewed buying interest coupled with higher Malaysian advices.

Linseed oil shot up on good inquiries from the paint industry.Castorseed futures also recovered on fresh export orders. Castorseeds bold and its oil eased due to lack of enquiries from shippers and soap industry.

In the edible oils segment, groundnut oil gained by Rs 5 per 10 kg to Rs 865 from the yesterday's closing level of Rs 860 and refined palmolein hardened by Rs 8 per 10 kg to Rs 468 as against Rs 460 previously.

Turning to the non-edible oils section, linseed oil rose by Rs 10 per 10 kg to Rs 570 from Rs 560 yesterday.

Castorseeds bold moved down by Rs 5 per 100 kg to Rs 3,720 as against Rs 3,725 and castoroil commercial softened to Rs 774 from Rs 775 per 10 kg previously.

Moving to the futures section, castorseed for October contract delivery resumed higher at Rs 3,737 and moved in a range of Rs 3,740 and Rs 3,726 before ending at Rs 3,734 from Rs 3,726, showing a modest gain of Rs 8 per tonne.