Groundnut oil recovers on renewed demand

Groundnut oil recovers on renewed demand

Mumbai: Groundnut oil recovered smartly at the Vashi oils and oilseeds wholesale market today following renewed demand from stockists and retailers.

While, refined palmolein slipped owing to reduced demand from retailers.

In the non-edible segment, castorseeds bold, castoroil commercial firmed up due to rising demand from shippers and soap industries.

Linseed oil also surged following good demand from paint and allied industries.

In the edible segment, groundnut oil rose by Rs 10 per 10 kg to Rs 1,150 from Monday’s closing level of Rs 1,140 but refined palmolein eased by Rs 5 per 10 kg to Rs 580 as against Rs 585 yesterday.

In non-edible section, castorseed bold gained by Rs 5 per 100 kg to Rs 3,320 as compared to Rs 3,315 yesterday’s close and castoroil commercial inched up by a Re per 10 kg to Rs 694.

Linseed oil also climbed by Rs 20 per 10 kg to Rs 990 as against Rs 970 previously.