Groundnut oil hardens on good demand

Refined palmolein prices moved up on good retail offtake on the back of higher Malaysian cues.

Castorseeds bold and castoroil commercial gained due to heavy demand from shippers and soap manufacturers.

Howeer, in the futures market, castorseeds declined on selling pressure following reduced export enquiries.

In the edible section, Groundnutoil surged by Rs 10 per 10 kg to Rs 1,260 from Thursday's closing level of Rs 1,250. Refined palmolein edged up by Rs 2 per 10 kg to Rs 622 from Rs 620. Linseed oil held steady at Rs 830 per 10 kg.

Turning to non-edible section, castorseeds bold shot-up by Rs 10 per 100 kg to Rs 4,250 from yesterday's closing level of Rs 4,200 and castoroil commercial rose by Rs 10 per 100 kg to Rs 880 from Rs 870.

In the futures section, castorseed for June contract resumed higher at Rs 4,615 and moved up further to Rs 4,640 before ending at Rs 4,530 as against Rs 4,601 yesterday, showing loss of Rs 71 per tonne.