Groundnut oil rebounds on fresh demand

Groundnut oil prices recovered smartly in an otherwise lacklustre oils and oilseeds Vashi wholesale market here today on fresh demand from stockists and retailers amidst forthcoming festivities.
Meanwhile, refined palmolein edged down on reduced offtake from retailers on the back of lower Malaysian cues.
In the non edible section, linseedoil eased following poor demand from paint and allied industries.
Castorseeds bold and castor oil commercial held steady in the absence of any worthwhile buying activity.
In the futures market, castorseeds fell on speculative selling owing to subdued export enquiries.
In the edible section, groundnut oil climbed by Rs 10 per 10 kg to Rs 1,215 from Thursday's closing level of Rs 1,205. However, refined palmolein moved down by Rs 2 to Rs 508 per 10 kg from Rs 510.

In the non-edible section, linseedoil declined by Rs 5 per 10 kg to Rs 765 as compared to Rs 770 previously. However, castorseeds bold and castoroil commercial closed unchanged at Rs 3,550 and Rs 740, respectively.
Turning to futures, castorseeds June contract resumed slightly lower at Rs 3,665 and drifted further to close at Rs 3,610 from Rs 3,670 previously, showing a fall of Rs 60 per tonne.