Groundnut oil strengthens on sustained demand

Mumbai : Groundnut oil prices strengthened at the Vashi oils and oilseeds wholesale market here today due to sustained demand from stockists and retailers amidst festivity as well as restricted supply from producing region.

While, refined palmolein slipped owing to subdued demand from retailers.Castorseeds bold and castoroil commercial also weakened further following reduced demand from soaps and shippers industries.Meanwhile, linseeds oil maintained steady trend in absence of any worthwhile buying activities.

In the edible section, groundnut oil gained further by Rs 10 per 10kg to Rs 840 from Last Saturday's close Rs 830, but, refined palmolein softened by Rs 2 per 10kg to Rs 594 as against Rs 596, previously.In other hand non-edible segment, castorseeds bold fell by Rs 25 per 100 kg to Rs 4,780 from last weekends close Rs 4,805 and castoroil commercial moved down by Rs 5 per 10 kg to Rs 986 as compared Rs 991.Linseeds oil ended unaltered at Rs 750 per 10kg.