Groundnut oil rises on firm demand

Groundnut oil prices strengthened further at the oils and oilseeds market here today due to increased offtake from stockists and retail consumers. On the other hand, refined palmolein closed stable in the absence of worthwhile buying support. 

In non-edible segment, linseed oil shot up on better demand from paint and allied industries. 

Castorseeds bold and castor oil commercial rose owing to higher demand from exporters and soap industries. Castorseeds futures market too witnessed heavy buying activities from traders and speculators.

In the edible section, groundnut oil added another Rs 5 per 10 kg to Rs 845 from last Saturday's closing level of Rs 840. Refined palmolein held steady at Rs 575 per 10 kg.

Turning to non-edible oil section, linseed oil spurted by Rs 10 per 10 kg to Rs 665 from last weekend's closing level of Rs 655. Castorseeds bold went up by Rs 30 per 100 kg to Rs 5,140 from Rs 5,110 and castor oil commercial moved up by Rs 5 per 10 kg to Rs 1,058 from Rs 1,052 previously.  

Moving to futures section, castorseeds for June delivery resumed slightly lower at Rs 4,815, but later firmed up close at Rs 4,893 over its previous close of Rs 4,816, disclosing a sharp rise of Rs 77 per tonne.