Groundnut oil slumps on heavy arrivals

Groundnut oil prices slumped at the Vashi oils and oilseeds wholesale market here today on poor demand from stockists and retailers amid heavy arrivals from producing belts.
While, refined palmolein surged following rising demand from retailers.
Castorseeds bold and castoroil commercial dropped further owing to lower offtake from soap and shippers industries.
Meanwhile, linseed oil held stable in absence of any large-scale buying activity.
In the edible section, groundnut oil fell by Rs 50 per 10 kg to Rs 1,050 from last Saturday's close Rs 1,100, while, refined palmolein moved up by Rs 6 per 10 kg to Rs 590 as against Rs 584 previously.

Moving to the non-edible segment, castorseeds bold edged down by Rs 5 per 100 kg to Rs 3,715 from Rs 3,720. Last weekends level and castoroil commercial softened by a Re per 10 kg to Rs 773.
Linseed oil unaltered at Rs 1,050 per 10 kg.