Groundnut oil surges on sustained demand

Groundnut oil prices maintained its rising trend at the oils and oilseeds market here today due to sustained demand from stockists and retailers amid restricted arrivals.   

Refined palmolein looked up on stray demand.

In non-edible segment, castorseeds bold and castor oil commercial declined further owing to subdued enquiries from industrial users. Castorseed futures also eased on poor export orders.

Linseed oil held steady in the absence of worthwhile buying activity.

In the edible oil segment, groundnut oil rose by Rs 10 per 10 kg to Rs 850 from yesterday's closing level of Rs 840 and refined palmolein edged up to Rs 567 per 10 kg as against Rs 566 previously. 

Turning to non-edible section, castorseed bold fell by Rs 25 per 100 kg to Rs 5,185 from overnight closing level of Rs 5,210 and castor oil commercial moved down by Rs 5 per 10 kg to Rs 1,067 as compared to Rs 1,072.

Linseed closed stable at Rs 640 per 10 kg. 

Moving to futures section, castorseeds for June delivery resumed lower at Rs 4,985 and traded between Rs 4,995 and Rs 4,955 before settling at Rs 4,981 from Rs 4,992 yesterday, showing a modest loss of Rs 11 per tonne.