Groundnut oils rise on renewed demand

Groundnut oil prices rose at the oils and oilseeds Vashi wholesale market here today on renewed demand from stockist and retailers.
Refined palmolein recovered marginally on fresh retail buying support amidst higher Malaysian cues.
In the non-edible section, castorseeds bold and castor oil rebounded on rising demand from shippers and soap manufacturers.
Linseed oil regained due to good demand from paint and allied industries.
In the futures market, castorseeds for September recouped on speculative buying on the back of higher export enquiries.
In the edible segment, Groundnut oil climbed by Rs 10 per 10kg to Rs 850 from last Saturday's closing level of Rs 850 and Refined palmolein inched-up by a rupee per 10kg to Rs 596 from Rs 595.

Turning to non-edible segment,Castorseeds bold shot-up by Rs 20 per 100kg to Rs 3,600 from Rs 3,580 and castor oil commercial also moved-up by Rs 4 per 10kg to Rs 750 from Rs 746. Linseeds oil gained by Rs 5 per 10kg to Rs 750 as against Rs 746 previously.
Moving to futures, castorseed for September contract resumed slightly higher at Rs 3,690, but later drifted to Rs 3,653 before rebounding to close at Rs 3,778 from Rs 3,685 last weekend, showing a net gain of Rs 93 per tonne.