Groundnut oil recovers on renewed demand

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

Elsewhere, castorseeds bold and castoroil commercial also rebounded smartly owing to fresh demand from soaps and shippers industries.While, refined palmolein eased further due to poor offtake from retailers.Meanwhile linseeds oil ruled steady in the absence of worthwhile buying activities.

In the edible segment, groundnut oil rose by Rs 10 per 10 kg to Rs 930 from Friday's close Rs 920, but, refined palmolein edged down by Rs 2 per 10kg to Rs 628 as against Rs 630, yesterday.Moving to the non-edibles section, castorseeds bold regained by Rs 25 per 100kg to Rs 4,600 as compared Rs 4,575 yesterday and castoroil commercial moved up by Rs 5 per 10kg to Rs 950 from Rs 945.Linseeds oil ended unaltered to Rs 770 per 10 kg.