Groundnut oil spikes on festive offtake

Groundnutoil prices spiked for the sixth straight session at the Vashi oils and oilseeds wholesale market here today following heavy demand from stockists and retailers amid subdued arrivals as well as sustained festive offtake.
Elsewhere, linseed oil also rebounded due to renewed demand from paint and allied industries.
While, refined palmolein, castorseed bold and castoroil commercial ruled steady in absence of any large-scale buying activity.
In the edible segment, groundnutoil jumped by Rs 50 per 10 kg to Rs 1,390 from Saturday's close Rs 1,340 and Refined palmolein remained unchanged at Rs 553 per 10 kg.
Moving to non-edible section, linseed oil climbed by Rs 30 per 10kg to Rs 1,180 from yesterday's close Rs 1,150.

Castorseed bold and castoroil commercial unaltered at Rs 3,325 per 100kg and Rs 695 per 10kg.