The Hindu Business Line : Groundnut oil firms up on renewed demand

MUMBAI: Prices of groundnut oil firmed up on the oils and oilseeds market here on Saturday due to renewed demand from retailers amidst restricted supplies from producing regions.

Elsewhere, castorseeds bold and its oil moved up on mild enquiries from shippers and soap industry. Castorseeds futures also rose further owing to sustained export orders. While, refined palmolein eased on poor offtake.

In the edible section, groundnut oil rose Rs 15 to Rs 665 from Friday’s closing level of Rs 650. Refined palmolein, however, moved down by Rs 2 to Rs 358 from Rs 360 on Friday.

Turning to the futures section, castorseeds December contract resumed steady at Rs 2,811, but later firmed up to a day’s high of Rs 2,840 before ending at Rs 2,824 as against Rs 2,811, showing a gain of Rs 13. Moving to non-edible section, castorseeds b old edged up Rs 2,800 from Rs 2,795 and castoroil oil commercial also inched up to Rs 590 as against Rs 589 on Friday. However, linseed oil continued to rule steady at Rs 530. — PTI

Prev: Rupee rises
Next: Demi Moore to develop own cosmetic line

Business Line | NUS Index |

Copyright copy; 2009, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line