Groundnutoil climbs on sustained demand

Refined palmolein held steady in the absence of any major buying.

Castorseeds bold and castor oil commercial also soared on consistent demand from shippers and soap industries.

In futures, castorseeds maintained the rising trend on heavy speculative offtake amid consistent export enquiries.

In the edible segment, Groundnut oil rose by Rs 10 per 10 kg to Rs 1,240 from Thursday's close of Rs 1,230. Refined palmolein closed unchanged at Rs 608 per 10 kg.

Moving to non-edible segment, castorseeds bold zoomed by Rs 275 per 100 kg to Rs 4,350 from previous level of Rs 4,075 and castor oil commercial surged by Rs 55 per 10 kg to Rs 900 from Rs 845. Linseed oil were unaltered at Rs 830 per 10 kg.

Turning to futures, castorseeds for the September contract opened lower at Rs 4,500 but later spurted to end at Rs 4,680 as compared to Rs 4,520 previously, showing a net gain of Rs 160 per tonne.