Groundnut oil strengthens on seasonal demand

Groundnut oil prices strengthened further at the Vashi oils and oilseeds wholesale market here today on sustained demand from stockist and retailers amid higher festive offtake.
Meanwhile, refined palmolein declined due to lack of retail offtake.
Linseeds oil also fell owing to reduced demand from paint and allied industries.
Castorseeds bold and castoroil commercial maintained a stable trend in absence of any worthwhile buying activity.
In the edible section, groundnutoil spurted by Rs 20 per 10kg to Rs 860 from Tuesday's closing level of Rs 840. However, refined palmolein moved down by Rs 4 per 10kg to Rs 500 as against Rs 504.

In the non-edible segment, Linseeds dipped by Rs 5 per 10kg to Rs 760 as compared to Rs 765 previously. Castorseeds bold and castoroil commercial closed unchanged at Rs 4,075 per 100kg and Rs 845 per 10kg, respectively.