Refined palmolein firms up on rising demand

Refined palmolein firmed up in an otherwise lacklustre oils and oilseeds market here today due to rising consumer demand coupled with better stockists offtake. Castorseed futures also rose on sustained export enquiries.

Meanwhile, castorseed bold, castoroil commercial, linseedoil and groundnut oil held steady in the absence of any market moving factors.

In the edible oil section, refined palmolein gained another Rs 5 per 10 kg to Rs 436 from yesterday's closing level of Rs 431, while, groundnutoil ruled steady at Rs 865 per 10 kg.

Moving to non-edible section, castorseed bold, castoroil commercial and linseedoil all remained unchanged at Rs 3,725 per 100 kg, Rs 775 and Rs 560 per 10 kg each, respectively.

Turning to the futures section, castorseed August contract resumed lower at Rs 3,639 and spurted further Rs 3,675 before settling at Rs 3,664 from Rs 3,643 previously, showing a gain of Rs 21 per tonne.

Castorseed futures October opened higher at Rs 3,747 and advanced further to end at Rs 3,772, as against Rs 3,743 yesterday, showing a smart recovery of Rs 29 per tonne.