Refined palmolein rule firm on good demand

Refined palmolein prices continued to gain at the oils and oilseeds market here today due to good stockist and retail demand.

Meanwhile, groundnut oil held steady on lack of any worthwhile buying.

Castorseeds bold and castoroil commercial rallied further on the back of robust demand from shippers and soap industries. Linseed oil maintained its stable trend in the absence of market moving factors. 

In futures market, castorseeds prices advanced owing higher overseas demand.

In the edible segment, refined palmolein edged up by Rs 2 per 10 kg to Rs 544 from Friday's closing level of Rs 542. Groundnut oil closed unchanged at Rs 965 per 10 kg.

Turning to non-edible section, castorseed bold rallied by Rs 50 per 100 kg to Rs 4,850 from Rs 4,800 and castor oil commercial rose by Rs 10 per 10 kg to Rs 1000 as compared to Rs 990. 

Moving to futures section, castorseeds for September delivery resumed higher at Rs 4,747 and strengthened further to Rs 4,790 before closing at Rs 4,775 from Rs 4,730 previously, showing gain of Rs 45 per tonne.