Groundnut oil recovers on retail offtake

Groundnut oil prices recovered in an otherwise sluggish oils and oilseeds market here today on fresh retail offtake, amid rise in consumer demand. 

Meanwhile, refined palmolein eased on lower Malaysian cues. Castorseeds futures dropped further owing to sustained stockists offloading amid poor export enquiries.  

Castorseeds bold, castor oil commercial and linseed oil maintained a steady trend in the absence of market moving factors.

In the edible oil segment, groundnut oil moved up by Rs 5 per 10 kg to Rs 755 from last Saturday's closing level of Rs 750, while refined palmolein softened to Rs 553 as compared to Rs 554 per 10 kg previously.

Turning to futures section, castorseeds for June delivery resumed lower at Rs 5,030 and drifted further to close Rs 4,990 from last weekend closing level of Rs 5,045, showing a loss of Rs 55 per tonne.

However, castorseeds bold, castor oil commercial and linseed oil, all closed unchanged at Rs 5,325, Rs 1,095 and Rs 660, respectively.