Groundnut oil firms up on better demand

Groundnut oil prices firmed up at the oils and oilseeds market here today due to renewed demand from retailers amid restricted arrivals.

On the other hand, refined palmolein continued to slide on subdued demand as well as heavy stockists offloading.

Castorseeds bold and castor oil commercial spurted owing to consistent industrial and export demand. Castorseeds futures also rose on speculative buying on the back of rising spot market demand.

In the edible oil segment, groundnut oil moved up by Rs 10 per 10 kg to Rs 765 from Wednesday's closing level of Rs 755, while refined palmolein dropped by Rs 11 per 10 kg to Rs 555 from Rs 566 previously.

Turning to non-edible section, castor seeds bold went up by Rs 50 per 100 kg to Rs 5,375 from overnight closing level of Rs 5,325 and castor oil commercial gained by Rs 10 per 10 kg to Rs 1,105 as compared to Rs 1,095.

Linseed oil continued to trade steady at Rs 660 per 10 kg.

Moving to futures section, castor seeds for June delivery resumed higher at Rs 5,015 and rallied further to a high of Rs 5,085 before closing at Rs 5,065 against Rs 4,988 yesterday, disclosing a gain of Rs 77 per tonne.