Groundnut oil flares up to all time high

Groundnut oil prices continued to surge to hit an all time high at the oilseeds market here today due to hectic buying by stockists and retailers amidst ongoing festive demand. 

Refined palmolein, remained steady on lack of worthwhile buying activity.

Castorseeds bold and castoroil commercial also jumped on sustained demand from industrial users as well as soap industries. Castorseeds futures strengthened owing to rise in export orders.

Linseed oil maintained its stable trend in the absence of market moving factors.

In the edible oil section, groundnutoil shot up by Rs 13 per 10 kg to Rs 898, from last Thursday's closing level of Rs 885, while, refined palmolein closed unaltered at Rs 467 per 10 kg.

Castorseeds bold spurted by Rs 85 per 100 kg to Rs 4,050 from Rs 3,965 and castoroil commercial also rose by Rs 17 per 10 kgs to Rs 840, as against Rs 823 previously. Linseedoil ended unchanged at Rs 550 per 10 kg.

Moving to futures section, castorseed's October contract resumed higher at Rs 3,940 and rallied further to Rs 3,969 before closing at Rs 3,941, as against Rs 3,910 previously, showing a smart rise of Rs 31 per tonne.