Edible oils surge on rising demand, import duty hike

Prices of both groundnut oil and refined palmolein surged at the Vashi oils and oilseeds wholesale market here today on rising demand from stockists and retailers due to ensuing festivities.
Besides, they were weighed by the recent 5 per cent hike in import duty.
Meanwhile, castorseed bold, castor oil commercial and linseed oil maintained a steady trend in the absence of any largescale buying activity.
In the edible segment, groundnut oil rose by Rs 15 per 10 kg to Rs 910 from Friday's closing level of Rs 895 and refined palmolein advanced by Rs 11 per 10 kg to Rs 523 as compared to Rs 512 previously.

Moving to non-edible section, castorseeds bold, castor oil commercial and linseed oil finished unaltered at Rs 4,275 per 100 kg, Rs 885 and Rs 750 per 10 kg, respectively.