Refined palmolein edges up on sustained demand

Refined palmolein prices edged up further at the oils and oilseeds market here today due to sustained demand from retailers amidst firm Malaysian advices.

Groundnut oil maintained the steady trend on lack of any worthwhile buying activity. 

In non edible segment, linseed oil prices firmed up on fresh demand from paint industries. Meanwhile, castorseeds bold and castor oil commercial continued to slide in the absence of demand from industrial users. 

In futures market, castorseeds futures moved up owing to renewed export enquiries. 

In the edible oil section, refined palmolein looked up by Rs 2 per 10 kg to Rs 580 from yesterday's closing level of Rs 578. Groundnut oil closed unaltered at Rs 840 per 10 kg.

Turning to the non-edible section, linseed oil gained Rs 5 per 10 kg to Rs 655 from Monday's closing level of Rs 650.

However, castorseed bold dipped by Rs 50 per 100 kg to Rs 5,050 from overnight closing level of Rs 5,100 and castor oil commercial fell by Rs 10 per 10 kg to Rs 1,040 as against Rs 1,050 previously.

Moving to futures section, castorseeds for June delivery resumed lower at Rs 4,765 and fell further to Rs 4,730 before recovering smartly to close at Rs 4,817 as compared to Rs 4,780 in the previous session, showing a rise of Rs 37 per tonne.