Poor supplies keep groundnut oil firm; palmolein recovers

Press Trust of India Updated - August 27, 2011 at 08:59 PM.

edible oil

Groundnut oil firmed up further on the oil and oilseeds market on Saturday on poor supplies from producing belts.

Refined palmolein recovered on fresh buying support from retailers. Castorseed bold and castor oil commercial hardened on good enquiries from shippers and soap manufacturers. Castorseed futures also moved up on renewed export orders. Linseed oil ruled steady in the absence of market moving factors.

Groundnut oil rose by Rs 5 for 10 kg to Rs 990 and refined palmolein edged up by Rs 2 for 10 kg to Rs 555.

Castorseed bold shot up by Rs 25 for 100 kg to Rs 5,075 and castor oil commercial gained by Rs 5 for 10 kg to Rs 1,045. Linseed closed unchanged at Rs 720 for 10 kg.

Castorseed for September delivery resumed higher at Rs 5,000 and moved in a range of Rs 5,035 and Rs 4,996 and finished at Rs 5,006, a rise of Rs 28 a tonne.

Published on August 27, 2011 15:21