Groundnut oil surges to new peak

Groundnut oil prices surged to an all time new peak at the oils and oilseeds market here today due to sustained stockists and export demand on the back poor arrivals from producing regions.

Meanwhile, refined palmolein dropped on lack of buying support amidst bearish Malaysian advices. 

Castorseeds bold and castor oil commercial moved down further in the absence of enquiries from soap industries.

Castorseeds futures recovered moderately on fresh export orders. Linseed oil held steady on lack of any worthwhile buying.

In the edible segment, groundnut oil advanced by Rs 10 per 10 kg to Rs 960 from Thursday's closing level of Rs 950, while refined palmolein dipped by Rs 8 per 10 kg to Rs 545 from Rs 553.  

Turning to non-edible section, castorseed bold eased by Rs 25 per 100 kg to Rs 4,850 from Rs 4,875 and castor oil commercial lost Rs 5 per 10 kgs to Rs 1,000 as against to Rs 1,005.

Moving to futures section, castorseeds for September delivery resumed slightly lower at Rs 4,470 but, later recovered to close higher at Rs 4,510 as compared to Rs 4,510, showing a modest gain of Rs 35 per tonne.