Refined palmolein firms up on fresh demand

Refined palmolein prices firmed up at the oils and oilseeds market here today due to fresh buying support from retailers and stockists.

Castorseeds bold and castor oil commercial dropped due to lack of enquiries from shippers and soap manufacturers. Castorseeds futures also declined on lower export orders amid bearish spot market.

Meanwhile, groundnut oil and linseed oil both closed unchanged in the absence of market moving factors. In the edible oil section, refined palmolein rose by Rs 7 per 10 kg to Rs 575 from yesterday's closing level of Rs 568.

Groundnut oil, however, closed unaltered at Rs 840 per 10 kg. 

Turning to the non-edible section, castorseed bold fell by Rs 45 per 100 kg to Rs 5,150 from overnight closing level of Rs 5,195.

Likewise, castor oil commercial drifted lower by Rs 9 per 10 kg to Rs 1,060 as against Rs 1,069 yesterday. Linseed oil closed unchanged at Rs 650 per 10 kg.

Moving to futures section, castorseeds for June delivery resumed lower at Rs 4,918 and dropped further to Rs 4,880 before ending at Rs 4,897 as compared to Rs 4,946 previously, showing a loss of Rs 49 per tonne.