Groundnut oil hardens on strong demand

Mumbai: Groundnut oil maintained its uptrend at the oils and oilseeds wholesale market here today following strong demand from stockists and retailers amid subdued arrivals from producing regions.

While, refined palmolein eased owing to reduced retail buying.

Elsewhere, castorseeds bold and castoroil commercial surged due to rising demand from shippers and soap manufacturers.

Linseed oil held stable in the absence of any large-scale buying.

In edible segment, groundnut oil surged by Rs 10 per 10 kg to Rs 1,170 from Friday’s close at Rs 1,160 but refined palmolein edged down by Rs 2 per 10 kg to Rs 602 as compared to Rs 604 yesterday.

Moving to non-edible section, castorseeds bold climbed by Rs 50 per 100 kg to Rs 3,300 from yesterday’s close of Rs 3,250 and castoroil commercial rose by Rs 10 per 10 kg to Rs 690 as against Rs 680 previously.

Linseed oil closed unchanged at Rs 890 per 10 kg.