Groundnut oil surges on rising demand

Groundnut oil prices surged further at the oils and oilseeds Vashi Wholesale market here today on rising demand from stockist and retailers amid adequate supplies.
Meanwhile, refined palmolein and linseed oil ruled stable in the absence of any worthwhile buying.
In the non-edible segment, castorseeds bold and castor oil commercial recovered following renewed demand from shippers and soap manufacturers.
In futures, castorseeds for September contract recovered modestly following better export enquiries.
In the edible segment, Groundnutoil gained by Rs 10 per 10kg to Rs 990 from Thursday's closing level of 980. Refined palmolein closed unchanged at Rs 538 per 10kg.

Moving to non-edible section,castorseeds bold climbed by Rs 25 per 100kg to Rs 3,525 from Rs 3,500 and castor oil commercial also looked up by Rs 5 per 10kg to Rs 735 as against Rs 730 previously.
Turning to futures, castorseeds September contract resumed higher at Rs 3,740 and moved up further to Rs 3,755 before settling at Rs 3,745 from Rs 3,725 previously, showing a modest gain of Rs 20 per tonne.