Groundnutoil prices surge on firm demand

Groundnutoil prices surged further at the oils and oilseeds Vashi Wholesale market here today on sustained demand from stockists and retailers.
Refined palmolein also moved up on good retail buying support.
Castorseeds bold and castoroil commercial rose following rising demand from shippers and soap manufacturing units.
Meanwhile, linseedoil maintained a steady trend in absence of any worthwhile buying.
In futures, castorseeds for September contract traded lackluster to edge-up marginally following mild export enquiries.
In the edible segment, groundnutoil shot up by Rs 30 per 10 kg to Rs 960 from Wednesday's close of Rs 930 and refined palmolein edged up by Rs 2 per kg to Rs 530 from Rs 528 previously.

Moving to non-edible section, castorseeds bold climbed by Rs 40 per 100 kg to Rs 3,540 from overnight closing level of Rs 3,500 and castor oil commercial rose by Rs 8 per 10 kg to Rs 738 as compared to Rs 730 yesterday. Linseeds oil closed unchanged at Rs 730 per 10 kg.
Turning to futures, Castorseeds September contract resumed stable at Rs 3,775, later drifted to Rs 3,745 before regaining to end at Rs 3,776 from Rs 3,775 yesterday, showing marginal gain of a rupee per tonne.