Edible oils spurt on good offtake, festive demand

Groundnut oil prices rose at the Vashi oils and oilseeds wholesale market here today driven by increased demand from stockists and retailers.
Refined palmolein recovered smartly on the back of fresh buying by domestic consumers amid firm overseas trend.
Meanwhile, castorseeds bold and castoroil commercial dropped sharply owing to reduced demand from shippers and soap manufacturers coupled with higher arrivals.
Linseed oil also declined on lack of buying support from paint and allied industries.
In the edible section, groundnut oil spiked by Rs 10 per 10kg to Rs 740 from last Saturday's closing level of Rs 730 and refined palmolein firmed up by Rs 7 per 10kg to Rs 605 from Rs 598.

Moving to non-edible section, castorseeds bold slumped by Rs 65 per 100kg to Rs 3,900 from last weekend level of Rs 3,965 and castoroil commercial slipped by Rs 13 per 10kg to Rs 810 as compared to Rs 823.
Linseed oil fell by Rs 5 per 10kg to settle Rs 780 as compared with Rs 785 previously.