Groundnutoil rallies on consistent demand

Groundnut oil rallied further in an otherwise lackluster oils and oilseeds Vashi Wholesale market here today on consistent demand from stockists and retailers.
Refined palmolein and linseedoil held steady in the absence of any large scale buying activity.
Castorseeds bold and castoroil commercial declined due to lack of demand from shippers and soap industries.
In futures, castorseeds for September contract also fell following speculative selling on the back of lower export enquiries.
In the edible segment, groundnutoil strengthened by Rs 20 per 10 kg to Rs 980 from Thursday's closing level of Rs 960. Refined palmolein closed unchanged at Rs 530 per 10 kg.

Moving to non-edible section, castorseeds bold eased by Rs 35 per 100 kg to Rs 3,505 from overnight close of Rs 3,540 and castor oil commercial moved down by Rs 7 per 10 kg to Rs 731 as against Rs 738 previously. Linseeds oil remained unaltered at Rs 730 per 10 kg.
Turning to futures, Castorseeds September contract resumed lower at Rs 3,760, later drifted to Rs 3,712 before regaining to finish at Rs 3,737 from Rs 3,776 yesterday, showing a loss of Rs 39 per tonne.