Edible oil prices shoot up on festive offtake,stockists demand

Groundnut oil prices spurted at the Vashi oils and oilseeds market here today due to heavy offtake from stockists and retailers against limited arrivals from producing belts.
Refined palmolein maintained its rising trend on back of domestic as well as speculative demand supported by firming overseas trend.
In the non-edible segment, castorseeds bold and castoroil commercial rose further on sustained demand from shippers and soap units.
Linseed finished stable after recent sharply rally owing to subdued demand amid adequate supply.
Castorseeds futures moved up in line with firm spot market trend coupled with good export enquiries.
In the edible section, groundnut oil surged by Rs 10 per 10kg to Rs 860 from Thursday's closing level of Rs 850 and refined palmolein shot-up by Rs 9 per 10kg to 602 as compared to Rs 593.

Moving to non-edibles, castorseeds bold firmed up by Rs 10 per 100kg to Rs 3,510 from Rs 3,500 and castoroil commercial edged up by Rs 2 per 10kg to Rs 732 as against Rs 730 previously.
Linseed oil, however held steady at Rs 790 per 10kg.
Turning to futures, castorseeds December contract opened higher at Rs 3,765 and moved in the range of Rs 3,775 and low of 3,756 before ending at Rs 3,773 from Rs 3,757 yesterday, showing a rise of Rs 16 per tonne.