Groundnut oil recovers on fresh demand, palmolein slips

Groundnut oil prices recovered at the oils and oilseeds Vashi Wholesale market here today due to fresh demand from stockist and retailers amidst restricted arrivals from producing belts.
Refined palmolein edged down further owing to stockist selling.
In the non-edible segment, castorseeds bold and castor oil commercial rebounded on renewed demand from shippers and soap manufacturers.
In futures market, castorseeds for September contract surged further on consistent speculative offtake amidst heavy export enquiries.
In the edible section, groundnut oil climbed by Rs 5 per 10kg to Rs 980 from Friday's closing level of Rs 975. However, refined palmolein inched down by Re 1 per 10 kg to Rs 532 as against Rs 533 yesterday.

Turning to non-edible segment, Castorseeds bold rose by Rs 50 per 100kg to Rs 3,550 from Rs 3,500 and castoroil commercial gained by Rs 10 per 10kg to Rs 740 as compared to Rs 735. Linseed oil closed unchanged at Rs 740 per 10kg.
Moving to futures, Castorseeds September contract resumed higher at Rs 3,800 and moved up further to Rs 3,850 before ending at Rs 3,815 from Rs 3,773 previously, showing net rise of Rs 42 per tonne.