Groundnut oil firms up on good demand, weak arrivals

Groundnut oil prices firmed up further at the Vashi oils and oilseeds wholesale market here today due to sustained stockists buying on the back of lower arrivals from producing regions.
On the other hand, refined palmolein declined owing to reduced retail demand amid sluggish overseas cues.
In the non-edible segment, castorseeds bold and castor oil commercial remained under selling pressure due to subdued demand from shippers and soap industries. Linseed oil closed at their overnight levels in the absence of necessary buying support.
Moving to edible segment, groundnut oil spiked by Rs 5 per 10 kg to Rs 950 from Monday's closing level of Rs 945. However, refined palmolein moved down by Rs 3 per 10 kg to Rs 508 against Rs 511 previously.

Turning to non-edible segment, castorseeds bold dropped by Rs 50 per 100 kg to Rs 3,925 from Rs 3,975 and castor oil commercial fell by Rs 10 per 10 kg to Rs 815 as compared to Rs 825 yesterday.
Linseed oil held steady at Rs 785 per 10 kg.