Refined palmolein eases on low demand

Refined palmolein prices eased further at the oils and oilseeds market here today on lower demand from retailers, amid ample supply position. 

Groundnut oil maintained a steady trend in the absence of buying support. Meanwhile, castorseeds bold and castor oil commercial continued to rise on hectic demand from shippers and soap industries.

Castorseeds futures also rallied on heavy speculative build-up on the back of higher spot demand, amid rising export orders.

In the edible oil segment, refined palmolein edged down by Rs 2 per 10 kg to Rs 566 from Tuesday's closing level of Rs 568. Groundnut oil ended stable at Rs 755 per 10 kg. 

Turning to non-edible section, castorseeds bold firmed up by Rs 25 per 100 kg to Rs 5,325 from yesterday's closing level of Rs 5,300 and castor oil commercial moved up by Rs 5 per 10 kg to Rs 1,095 as against Rs 1,090.

Linseed oil closed steady at Rs 660 per 10 kg. 

Moving to futures section, castor seeds for June delivery resumed higher at Rs 4,900 and shot up to end at Rs 4,988 as compared to Rs 4,866 previously, showing a sharp rise of Rs 122 per tonne.