Edible oils surge on festive offtake

Groundnut oil prices surged at the Vashi oils and oilseeds market here today on renewed demand from stockist and retailers amidst ensuing festivities.
Refined palmolein prices also firmed up on sustained retail buying.
In the non-edible segment, castorseed bold and castor oil commercial eased on reduced demand from shippers and soap industries.
While, linseeds oil ruled stable in the absence of any worthwhile buying.
In futures trade, castorseeds September contract moved down slightly on the back of subdued export enquiries.
In the edible segment, Groundnut oil climbed by Rs 10 per 10kg to Rs 980 from Tuesday's closing level of Rs 970. Refined palmolein moved-up by Rs 3 per 10kg to Rs 540 as against Rs 537 yesterday.

Turning to non-edible section, Castorseed bold declined by Rs 25 per 100kg to Rs 3,525 from Rs 3,550 and castor oil commercial fell by Rs 5 per 10kg to Rs 735 from Rs 740.
Moving to futures, castorseeds September contract resumed lower at Rs 3,565 and hovered between Rs 3,578 and Rs 3,550 before closing at Rs 3,571 from Rs 3,578 previously, showing a mild loss of Rs 7 per tonne.