Groundnut oil spurts on heavy demand

Groundnut oil prices spurted at the oils and oilseeds market here today on heavy demand from stockist and retailers on the backdrop of approaching festivities.
Meanwhile, refined palmolein eased further due to lack of retail buying support amid lower Malaysian cues.
In the non-edible segment, castorseeds bold and castor oil commercial recovered owing to fresh demand from shippers and soap manufacturers.
Linseed oil declined following subdued demand from paint and allied industries.
In futures market,castorseeds December contract edged down on reduced export enquiries.
In the edible segment, groundnutoil shot-up by Rs 30 per 10kg to Rs 870 from Wednesday's closing level of Rs 840. However, refined palmolein edged-down by Rs 2 per 10kg to Rs 565 as against Rs 567.

Moving to non-edible section, castorseeds bold climbed by Rs 20 per 100kg to Rs 3,500 from Rs 3,480 and castoroil commercial moved up by Rs 4 per 10kg to Rs 730 as compared to Rs 726 yesterday. However, linseed oil fell by Rs 10 per 10kg to Rs 740 from Rs 750.
Turning to futures, castorseeds December contract opened slightly lower at Rs 3,700 and later moved up to Rs 3,716 before finishing at Rs 3,706 from Rs 3,707 previously, showing a marginal loss of Re 1 per tonne.