Groundnut oil moves up on good demand

Groundnut oil prices moved up at the oilseeds market here today due to good demand from retailers amidst lower arrivals from producing regions.

Meanwhile, refined palmolein slipped further owing to reduced demand as well as weak Malaysian advices.

Castorseeds bold and castoroil commercial continued to surge on persistent demand from shippers and soap industries. Castorseeds futures also strengthened on good export orders.

Linseed oil remained unchanged.

In the edible oil section, groundnutoil gained by Rs 5 per 10 kg to Rs 895, from overnight's closing level of Rs 890 and refined palmolein fell marginally by Rs 3 to Rs 459 per 10 kg, as against Rs 462 yesterday.

Castorseeds bold rallied by Rs 50 per 100 kg to Rs 4,175 from Rs 4,125 and castoroil commercial went up by Rs 10 per 10 kgs to Rs 865, as against Rs 855 previously.

Linseedoil were stable at Rs 550 per 10 kg.

Moving to futures section, castorseed's October contract opened higher at Rs 4,021 and hardened further to Rs 4,075 before settling at Rs 4,038 as against 4,009 yesterday, showing a gain of Rs 29 per tonne.