Groundnut oil recovers moderately on renewed demand

Groundnut oil prices recovered moderately at the oils and oilseeds market here today on renewed demand from stockist and retailers.
Refined palmolein also edged-up due to stray retail buying support on the back of bullish Malaysian cues.
In non-edible section, castorseeds bold and castoroil commercial declined owing to lower demand from shippers and soap industries.
In the futures market, castorseeds slipped on speculative selling pressure amidst subdued export enquiries.
In edible section, groundnutoil climbed by Rs 5 per 10 kg to Rs 1,220 from Saturday's closing level of Rs 1,215. Refined palmolein inched-up by a rupee per 10kg to Rs 512.

Moving to non-edible section, castorseeds bold dropped by Rs 50 per 100 kg to Rs 3,575 from weekend's closing level of Rs 3,625 and castoroil commercial also fell by Rs 10 per 10 kg to Rs 745 from Rs 755. Linseed oil closed unchanged at Rs 875 per 10 kg.
Turning to futures, castorseed March contract resumed lower at Rs 3,800 and later drifted further to close at Rs 3,776 from Rs 3,825 last weekend, showing a loss of Rs 49 per tonne.