Edible oils harden on sustained demand

Mumbai: Groundnut oil hardened at the oils and oil seeds market here today on persistent demand from stockists as well as exporters on the back of restricted arrivals from producing regions. Refined palmolein also strengthened on heavy consumer demand.

Meanwhile, castorseeds bold and castorseed commercial both slipped further due to lack of demand from shippers and soap industries. In the futures market, castorseeds futures also eased on lack of export demand. In the edible section, groundnut oil surged by Rs 10 per 10 kg to Rs 995 from Friday`s closing level of Rs 985 and refined palmolein went up by Rs 8 per 10 kg to Rs 592 from Rs 584 yesterday.

Turning to non-edible session, castorseeds bold declined by Rs 35 per 100 kg to Rs 3,965 from 4,000 and castoroil commercial went down by Rs 7 per 10 kg to Rs 823 against Rs 830 previously. Linseed oil remained unaltered at Rs 825 per 10 kg.

Moving to futures section, castorseed for March delivery resumed lower at Rs 3,635 and moved in the range of Rs 3,647 and Rs 3,620 before settling at Rs 3,639, showing a modest loss of Rs 6 per tonne.