Edible oils climb on festive demand

Groundnut oil prices spurted at the oils and oilseeds wholesale market here today on heavy demand from stockist and retailers on the back of the ensuing festive season.
Refined palmolein also moved up on good retail buying amidst higher Malaysian cues.
In the non-edible section, castorseeds bold and castor oil fell further owing to subdued demand from shippers and soap manufacturers.
In futures market, castorseeds December contract slipped on speculative selling following reduced export inquiries.
In the edible segment, groundnut oil shot-up by Rs 20 per 10kg to Rs 890 from Monday's closing level of Rs 870 and refined palmolein also gained by Rs 3 per 10kg to Rs 558 as against Rs 555 previously.

Moving to non-edible section, castorseeds bold declined by Rs 15 per 100kg to Rs 3,450 from Rs 3,465, castoroil commercial went down by Rs 3 per 10kg to Rs 720 as compared Rs 723 previously. Linseed oil remained unchanged at Rs 745 per 10kg.
Turning to futures, castorseeds December contract opened slightly lower at Rs 3,716 and drifted further to Rs 3,680 before closing at Rs 3,705 from Rs 3,722 previously, showing a modest loss of Rs 17 per tonne.