Groundnut oil recovers on better offtake

Groundnut oil prices recovered modestly at the oils and oilseeds market here today due to better retail offtake.

While, refined palmolein held steady in the absence of any worthwhile buying activity.

Castorseeds bold and castor oil commercial also firmed up on renewed enquiries from shippers and industries. 

Meanwhile, castorseeds futures eased on subdued trading activity amidst lower export orders.

In the edible oil segment, groundnut oil gained Rs 5 per 10 kg to Rs 755 from overnight closing level of Rs 750. Refined palmolein closed stable at 551 per 10 kgs.

Turning to non-edible section, castorseeds bold rose by Rs 25 per 100 kgs to Rs 5,300 from Tuesday's closing level of Rs 5,275 and castor oil commercial added Rs 5 per 10 kgs to Rs 1,090 from RS 1,085 yesterday.

Linseed oil were unaltered at Rs 660 per 10 kg. 

Moving to futures section, castorseeds for June delivery resumed steady at Rs 5,035 but, later moved in a range of Rs 5,041 and Rs 5,025 before settling at Rs 5,031 as compared to Rs 5,035 previously, showing a nominal loss of Rs 4 per tonne.