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The Economic Times

Groundnut oil spurts on heavy demand, low supply

Mumbai: Groundnut oil prices rose at the oils and oilseeds wholesale market here today due to good stockists demand as well as robust seasonal offtake in the face of relatively poor arrivals.

On the other hand, refined palmolein softened owing to poor buying support amid adequate stock positions.

However, castorseeds bold and castoroil commercial firmed up further on the back of sustained enquiries from shippers and soap manufacturers.

Linseed oil, on the contrary, maintained its stable trend in the absence of demand from paint industries.

In the edible segment, groundnut oil climbed by Rs 10 per 10 kg to Rs 970 from Friday's closing level of Rs 960, while refined palmolein inched down to Rs 557 per 10 kg as against Rs 558 earlier.

Turning to non-edible section, castorseed bold hardened by Rs 15 per 100 kg to Rs 3,140 as compared to Rs 3,125 and castoroil commercial gained by Rs 3 per 10 kg to Rs 658 from Rs 655 yesterday. Linseed oil held unaltered at Rs 865 per 10 kg.
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