Groundnut oil spurts on firm demand

Groundnut oil prices spurted at the oils and oilseeds Vashi wholesale market here today due to rising demand from stockist and retailers amidst good offtake from exporters.
While, refined palmolein and linseed oil ruled stable in the absence of any worthwhile buying.
In the non-edible section, castorseeds bold and castor oil commercial rose on renewed demand from shippers and soap manufacturers.
On the futures market, castorseeds recovered on renewed speculative offtake following good export enquiries.
In the edible section, Groundnut oil shot-up by Rs 15 per 10 kg to Rs 1,045 from Thursday's closing level of Rs 1,030. Refined palmolein closed unchanged at Rs 508 per 10 kg.

Moving to non-edible, Castorseeds bold climbed by Rs 25 per 100 kg to Rs 3,400 from Rs 3,375, castoroil commercial moved up by Rs 5 per 10 kg to Rs 710 from Rs 705. However, linseed oil closed unaltered at Rs 740 per 10 kg.
Turning to futures, Castorseeds June contract opened higher at Rs 3,330 and moved up further to Rs 3,364 before settling at Rs 3,352 from yesterday's closing level of Rs 3,300, a smart gain of Rs 52 per tonne.