Groundnut oil rise on renewed demand

Refined palmolein firmed up further on sustained retail buying support on the back of higher Malayasian cues.

In non-edible segment, castorseeds bold and castoroil commercial climbed on fresh demand from shippers and soap industries.

Linseeds oil maintained a steady trend in the absence of any worthwhile buying.

Castorseeds futures recovered modestly owing to renewed speculative offtake following fresh export enquiries.

In the edible section, Groundnut oil climbed by Rs 5 per 10 kg to Rs 1,280 from Thursday's closing level of Rs 1,275. Refined palmolein gained by Rs 3 per 10kg to Rs 495 as against Rs 489 previously.

Moving to non-edible segment,castorseeds bold surged by Rs 35 per 100kg to Rs 3,575 from Rs 3,540 and castoroil commercial moved up by Rs 7 per 10kg to Rs 745 as compared to Rs 738 yesterday. Linseed oil closed unchanged at Rs 810 per 10kg.

Turning to futures, castorseed March contract resumed higher at Rs 3,860 and moved in a range of Rs 3,880 and Rs 3,852 before closing at Rs 3,867 from Rs 3,844 previously, showing a gain of Rs 23 per tonne.