Groundnut oil rebounds on renewed demand

Refined palmolein edged up on good retail demand on the back of bullish Malaysian cues.

Meanwhile, in the non-edible segment, castorseeds bold and castoroil commercial declined further due to subdued demand from shippers and soap manufacturers.

Meanwhile, Linseed oil maintained a steady trend in the absence of any worthwhile buying activity.

In futures, castorseeds slipped following speculative selling amid lower export enquiries.

In the edible segment, Groundnut oil spurted by Rs 10 per 10 kg to Rs 1,200 from Wednesday's closing level of Rs 1,190. Refined palmolein inched up by Re 1 to Rs 598 per 10 kg as against Rs 597 previously.

Turning to non-edible segment, Castorseeds bold slipped by Rs 15 per 100 kg to Rs 3,625 from Rs 3,640 and castor oil commercial moved down by Rs 3 per 10 kg to Rs 755 as against Rs 758. However, linseed oil closed unchanged at Rs 825 per 10 kg.

Moving to futures, castorseed December contract resumed stable at Rs 3,960, later hovered in a range of Rs 3,990 and Rs 3,915 before ending at Rs 3,925 as against Rs 3,960 previously, showing a loss of Rs 35 per tonne.