Groundnut oil spurts on festive demand

Groundnutoil prices spurted at the Vashi oils and oilseeds wholesale market here today on good stockists and retail offtake on the back of bullish festival demand.
Meanwhile, refined palmolein weakened further owing to subdued retail demand amid bearish Malaysian cues.
In the non-edible segment, castorseeds bold and castoroil commercial slipped due to lower demand from shippers and soap industries.
Meanwhile, linseed oil prices maintained a steady trend in the absence of any major buying.
In the edible section, groundnutoil climbed by Rs 20 per 10 kg to Rs 785 from Wednesday' closing level of Rs 765. However, refined palmolein moved down by Rs 3 per 10 kg to Rs 494 as against Rs 497 previously.

Moving to non-edible section, Castorseeds bold declined by Rs 25 per 100 kg to Rs 4,150 from overnight close of Rs 4,175 and castor oil commercial eased by Rs 5 per 10 kg to Rs 860 from 865 yesterday. Linseed oil closed unchanged at Rs 760 per 10 kg.