Groundnutoil spurts on renewed demand

While, refined palmolein prices eased further due to subdued retail offtake on the back of bearish Malaysian cues.

In the non-edible section, castorseeds bold and castor oil commercial prices moved down owing to reduced demand from shippers and soap manufacturers.

Linseed oil prices ruled steady in the absence of any worthwhile buying.

In futures, castorseeds fell witnessing speculative selling pressure following lower export enquiries.

In the edible section, Groundnutoil surged by Rs 15 per 10kg to Rs 1,200 from Tuesday's closing level of Rs 1,185. Refined palmolein softened by a rupee per 10 kg to Rs 515.

Turning to non-edible segment,Castorseeds bold slipped by Rs 25 per 100 kg to Rs 3,450 from Rs 3,475 and castoroil commercial went down by Rs 5 per 10kg to Rs 720 as compared to Rs 725 yesterday. However, linseed oil closed unchanged at Rs 820 per 10kg.

Moving to futures, Castorseed December resumed lower at Rs 3,660 and drifted further to Rs 3,611 before settling at Rs 3,617 as against Rs 3,675 previously, showing a loss of Rs 58 per tonne.