Groundnut oil gains on good demand

Groundnut oil prices firmed up at the oils and oilseeds market here today due to steady demand from stockists and retailers on the back of limited arrivals. 

While, refined palmolein eased further on poor buying support. Castorseeds bold and castor oil commercial moved up owing to increased demand from shippers and soap industries. 

Linseed oil continue to rule steady in the absence of market moving factors. 

In futures market, castorseed prices moved in a tight range before concluding steady amidst lower export demand. 

In the edible segment, groundnut oil gained by Rs 5 per 10 kg to Rs 965 from last Saturday's close of Rs 960. While, refined palmolein softened to Rs 532 per 10 kg.

Turning to non-edible section, castorseeds bold went up by Rs 25 per 100 kg to Rs 4,810 from Rs 4,785 and castor oil commercial added by Rs 5 per 10 kg to Rs 992 as against Rs 987 previously.

Linseed oil closed stable at Rs 720 per 10 kg.  

Moving to futures section, castorseeds for September delivery resumed higher at Rs 4,710, but later drifted lower to Rs 4,685 before settling at the last weekend closing level of Rs 4,700 per tonne.