Groundnut oil rebounds on renewed demand

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

In the non-edible section, castorseed bold and castor oil commercial moved down owing to subdued demand from shippers and soap manufacturers.

Linseed oil ruled steady trend in the absence of any worthwhile buying activity.

In futures, castorseeds declined on selling pressure amidst lack of export enquiries.

In edible segment, Groundnut oil climbed by Rs 10 per 10 kg to Rs 1,140 from Tuesday's closing level of Rs 1,130. Refined palmolein gained by Rs 2 per 10kg to Rs 526 from Rs 524.

Moving to non-edible segment, Castorseeds bold declined by Rs 25 per 100 kg to Rs 3,500 from Rs 3,525 and castoroil commercial slipped by Rs 5 per 10kg to Rs 730 as compared to Rs 735 previously. Linseed oil closed unchanged at Rs 810.

Turning to futures, castorseed December contract resumed slightly higher at Rs 3,920, but later drifted lower to Rs 3,868 before settling at Rs 3,876 as compared to Rs 3,917 previously, showing a loss of Rs 41 per tonne.