Demand Lifts Groundnut Oil

Groundnut oil recovered by Rs 4 to fix at Rs 418 per 10 kg on improved demand and tight supplies from the producing centres. Stockists were active at reduced level. In other oils, sesame oil improved by Rs 10 to Rs 300 per 10 kg on improved demand amid limited stocks.

Linseed oil declined by Rs 5 to Rs 320 per 10 kg on easy demand and better arrivals. Soybean oil refined was up Rs 9 at Rs 296 on good buying support at the reduced level. (Soybean and soyoil prices were firm on decreased arrivals yesterday. Soybean prices were up by Rs 100-150 per tonne, reports Reuter.

 

Soymeal prices continued firm on good export demand. Soymeal yellow was $280 per tonne ready delivery and was $276-277 per tonne November, December and January shipment in new season.

Rapeseed extraction was $125 per tonne in export. Rapeseed extraction was Rs 4,250 f.o.r. Bedibunder and was Rs 4,200-4,225 f.o.r. Bhavnagar.)

Imported palmolein firmed up by Rs 2 to Rs 267 per 10 kg on better demand at low level.

Majority of other oils were overall steady on narrow movements.

December contract futures opened Rs 3 higher at Rs 1129 per quintal but declined to Rs 1128.50 before closing. In oilseeds, groundnuts