Edible oil prices firm up on rising demand

Groundnut oil prices recovered at the oils and oilseeds Vashi Wholesale Market here today on fresh demand from stockist and retailers.
Refined palmolein rallied further following rising demand from retailers on the back of bullish Malaysian cues.
In the global market, palm oil for the contract for August delivery climbed 0.5 per cent to USD 791 a tonne on the Bursa Malaysia Derivatives.
In the edible segment, castorseeds bold, castoroil commercial and linseed oil all held stable in the absence of any worthwhile buying.
Meanwhile, there was no trading in futures market.
In the edible section, Groundnut oil climbed by Rs 5 per 10 kg to Rs 1,050 from last Saturday's closing level of Rs 1,045 and Refined palmolein moved up by Rs 5 per 10 kg to Rs 524 as against Rs 519 previously.

Turning to non-edible segment, Castorseeds bold, castoroil commercial and linseeds all closed unchanged at Rs 3,575 per 100 kg, Rs 745 per 10 kg and Rs 735 per 10 kg, respectively.