Groundnut oil strengthens on sustained demand

Groundnut oil prices strengthened at the Vashi oils and oilseeds wholesale market here today on sustained demand from stockists and retailers amid good festive offtake.

Meanwhile, refined palmolein declined following subdued demand from retailers.

In the non-edible section, castor seeds bold and castor oil commercial recovered moderately due to renewed demand from shippers and soap manufacturing units.

Linseed oil ruled stable in the absence of any worthwhile buying activity.

In the edible segment, groundnut oil rose by Rs 15 per 10 kg to Rs 1,040 from last Saturday's closing level of Rs 1,025. However, Refined palmolein fell by Rs 5 per kg at Rs 562 per 10 kg as against Rs 567 previously.

Moving to non-edible section, castor seeds bold climbed by Rs 75 per 100 kg to Rs 4,850 as compared to Rs 4,775 and castor oil commercial rose Rs 15 per 10kg to Rs 1,000 as against Rs 985 previously.

Linseed oil ended unchanged at Rs 830 per 10 kg.